Octavia and Abri in partnership talks
Octavia and Abri have today announced that they are exploring options for a formal partnership.
This announcement is being made early, before both parties have agreed a partnership business case, in the interests of transparency, to avoid speculation, and to provide reassurance about Octavia’s long-term future and so we can listen to the views of tenants, staff and stakeholders.
Stephen Jack, Octavia’s Chair said:
“Today’s announcement is part of Octavia’s commitment to secure a better future for its residents and other customers, colleagues and stakeholders. The board believes that forging the right partnership is in the best long-term interests of Octavia as it will make it stronger financially, enable it to invest more in its customer and community offer, and protect the long-term provision of its 5,000 social and affordable homes in London for both current and future tenants.”
Octavia’s board chose Abri as its preferred potential partner after conducting a robust analysis and a competitive process. This involved considering a number of potential partners against strict criteria. Abri and Octavia have also agreed to collaborate from now on in a number of key business areas to increase Octavia’s capacity during what will be a resource intensive period.
Sandra Skeete, Octavia CEO said:
“We chose Abri as our potential partner because it shares our purpose and values, is committed to protecting Octavia Hill's legacy and to maintaining a strong, local presence in London”.
She added: “We will listen carefully to the views of our residents and other customers before making a final decision on partnership, which would also be subject to the necessary regulatory and financial consents.”