The transfer means that Caledonia is now responsible for the homes and services that were provided previously by Antonine.

The FCA’s approval was the final step required to bring the two organisations together following a year long period of joint working to develop and consult on the proposal. Antonine’s tenants voted overwhelmingly in favour of the transfer in a tenant ballot that was held over the early summer months. Shareholding members of the Association also subsequently voted to approve the transfer at two Special General Meetings that were held in August.

Caledonia said the transfer will involve faster delivery and increased investment in tenants’ homes and implementing a five year rent guarantee for tenants, whilst also continuing to deliver services locally. These benefits will be combined with a strong focus on improving services and investigating opportunities to build new affordable homes for the many people in housing need in the local area, it added.

Mags Lightbody, interim director at Antonine, said: “A great deal of hard work has been carried out by our management committee and staff team over the past two years to get us to this point and I would like to express my sincere thanks to them for this. I would also like to thank our tenants for the positive contribution that they made to the development of the transfer proposal, and for their active participation in the consultation and tenant ballot processes. This was vital in developing and agreeing a set of transfer promises that will deliver real long term benefits for existing and future tenants.”

Julie Cosgrove, chief executive at Caledonia, added: “I am delighted that we have now been able to successfully conclude the transfer process and I would like to express a warm welcome to Caledonia to Antonine’s tenants and other customers. The outcome of the recent tenant ballot that demonstrated clear and strong support from tenants for the transfer to Caledonia was very pleasing for us. We are at the point now where we can start to put the transfer arrangements in place and commence our work to deliver on the transfer commitments that we made to the tenants.”