The Shareholder Committee met to discuss performance and governance issues relating to wholly-owned council companies Westminster Builds and Westminster Community Homes (WCH). The committee approved the appointment of Gill Matthews and Councillor Iman Less as non-executive directors to the boards of Westminster Builds and Westminster Community Homes respectively.

Westminster Builds

The committee received an end-of-year report for Westminster Builds, the council's wholly-owned development company. The company's accounts for 2023-24 are still being audited, but it is predicted that they made an operating profit of £0.437 million against a budgeted loss of £0.255 million. The company currently owns and manages 71 intermediate rent¹ homes across Westminster, with a further 42 due for acquisition at 300 Harrow Road and Luxborough Street, bringing the total to 113 by the end of 2024/25.

The meeting also discussed the ongoing work to analyse delivery routes for the second phase of the Ebury Bridge Estate regeneration. This phase of the scheme is currently budgeted at £38 million and will provide around 100 new homes, including 48 for social rent. The report to the committee stated:

A detailed piece of work is currently being undertaken to analyse different delivery routes, with a formal decision being taken before the end of 2024.

The committee also received an update on the creation of a new for-profit registered provider of social housing. The new company would sit within the Westminster Builds group and, it is hoped, would allow the council to attract grant funding. The first stage of the application to the Regulator of Social Housing is now complete, with the second stage due to commence later in the year.

Appointment of Gill Matthews

The committee approved the appointment of Gill Matthews, the council's Head of Homelessness Prevention, as a non-executive director to the board of Westminster Builds. A report to the committee explained that Ms Matthews had been appointed without a vote to ensure that the company's board had enough members to make decisions. The report explained:

Following the resignation of a previous director, to maintain quoracy and enable decisions to be made, a new director appointment is required.

The report confirmed that Ms Matthews will receive training to help her fulfil the role.

Westminster Community Homes

Westminster Community Homes (WCH), the council's other wholly-owned housing company, also reported a positive year, with an anticipated operating surplus of £960,000 against a budgeted surplus of £11,000 on a turnover of £6.146 million. Highlights from the year included the completion of 20 new intermediate rent homes at Victoria Wharf on the Grosvenor Waterside development in Pimlico. WCH also acquired six properties on the Church Street regeneration site for £3.6 million.

However, the company raised concerns about the performance of its repairs and maintenance service. Satisfaction with the repairs service was just 55%, with 33% of emergency repairs and 67% of routine repairs completed on time. The report acknowledged that this is below target, stating:

The two areas of concern for WCH are the complaints handling performance and the non-emergency repair completed on time.

The report confirmed that work is being done to improve performance but did not explain the cause of the delays or what steps were being taken.

The meeting heard that WCH is developing a new strategy following a review by the board. The main elements of the new strategy are:

• To modernise the business to provide higher quality homes and services;
• To support the council in achieving its Fairer Westminster agenda;
• To improve governance.

Appointment of Cllr Less

The committee also approved the appointment of Councillor Iman Less to the board of Westminster Community Homes as a non-executive director. The report to the committee stated that this appointment was not made to ensure the board remained quorate but instead to:

provide a link between the council and the company

The report confirmed that Councillor Less will not receive payment for the role.

Westco

The performance of Westco, the council's wholly owned property services company, was discussed in private.