{"id":2117805,"date":"2026-10-07T10:26:57","date_gmt":"2026-10-07T09:26:57","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/westmidlands\/?p=2117805"},"modified":"2026-10-07T10:28:07","modified_gmt":"2026-10-07T09:28:07","slug":"birmingham-landlord-downgraded-as-regulator-slams-unacceptable-failings","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/westmidlands\/news\/2117805-birmingham-landlord-downgraded-as-regulator-slams-unacceptable-failings","title":{"rendered":"Birmingham landlord downgraded as regulator slams &#8216;unacceptable&#8217; failings"},"content":{"rendered":"<p dir=\"ltr\">Birmingham-based social housing landlord GreenSquareAccord has been downgraded by the Regulator of Social Housing over serious weaknesses in its financial governance, risk management and internal controls.<\/p>\n<p dir=\"ltr\"><a href=\"https:\/\/greensquareaccord.co.uk\/\">The landlord<\/a>, which manages around 25,500 social homes across the West Midlands, Oxfordshire, Gloucestershire and Wiltshire, has been given G3 and V3 ratings, meaning the regulator has concluded it does not meet its governance and financial viability standards.<\/p>\n<p dir=\"ltr\">The regulator said that although GreenSquareAccord had commissioned reviews and set up improvement programmes, there was insufficient evidence they had led to lasting improvement.<\/p>\n<p dir=\"ltr\">It also pointed to a history of weak financial performance, missed targets and limited capacity to absorb a reasonable range of adverse scenarios.<\/p>\n<p dir=\"ltr\">While the landlord remains compliant with its lender covenants, the regulator said continued compliance and viability depend on it delivering significant disposals, cost reductions and transformation programmes.<\/p>\n<p dir=\"ltr\">The regulator said it would continue to engage intensively with GreenSquareAccord and expects its board to consider all available options to ensure its long-term viability. It warned that a failure to respond positively could lead to further regulatory action.<\/p>\n<p dir=\"ltr\">Jonathan Walters, chief executive of the Regulator of Social Housing, said: &#8220;In this case, our investigation has found a continued failure to address previously identified weaknesses in governance. This is unacceptable. Our serious concerns over GSA&#8217;s governance have undermined our assurance in the organisation&#8217;s financial resilience and long-term viability.&#8221;<\/p>\n<p dir=\"ltr\">GreenSquareAccord was placed on the regulator&#8217;s gradings under review list in May. Its previous ratings, published in October 2025, were G2 for governance and V2 for financial viability. Its C2 consumer grade is unchanged, as consumer standards were not part of the investigation.<\/p>\n<p dir=\"ltr\">The downgrade follows a high-profile row in Birmingham over a community-led housing scheme in Stirchley. GreenSquareAccord pulled out of the planned sale of 39 homes and three retail units on Pershore Road to its former partner, Stirchley Co-operative Development, earlier this year, after delays and cost overruns.<\/p>\n<p dir=\"ltr\">Back in August, <a href=\"https:\/\/www.thebusinessdesk.com\/westmidlands\/?s=Birmingham+City+Council\">Birmingham City Council<\/a>&#8216;s leadership wrote to the landlord expressing &#8220;serious reservations&#8221; about future partnership working, Housing Today reported.<\/p>\n<p dir=\"ltr\">GreenSquareAccord said at the time that absorbing the shortfall would hurt its ability to invest in other tenants&#8217; homes.<\/p>\n<p dir=\"ltr\">The group was formed in April 2021 through the merger of GreenSquare Group and Accord Housing Association. Earlier this year it closed its offsite timber frame manufacturing business, LoCaL Homes, after failing to find a buyer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Birmingham-based social housing landlord GreenSquareAccord has been downgraded by the Regulator of Social Housing over serious weaknesses<\/p>\n","protected":false},"author":284306,"featured_media":2117806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[136545,9],"coauthors":[137138],"class_list":["post-2117805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-government","category-property","tag-featured-story"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Birmingham landlord downgraded as regulator slams &#039;unacceptable&#039; failings | TheBusinessDesk.com<\/title>\n<meta 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