Riverside again hits the red button
Large national landlord Riverside reports an annual deficit for the second consecutive year, despite an increase in turnover .
The federation has campaigned against Riverside for many years describing the Liverpool-based organisation as bossy, inefficient and undemocratic, paying its senior efficials grossly inflated salaries.
The 75,000-home Riverside recorded a post-tax deficit of £6.4m in the year to the end of March 2024, compared to a shortfall of £9.3m the year before.
Terrie Alafat, chair of Riverside, said the performance was partly due to a “unique set of challenges” the group is still dealing with from taking on One Housing as a subsidiary in 2021 .
 |
| Chief executive Paul Dolan |
This includes an “extensive cladding remediation programme” for the London-based landlord which is expected to be completed within the next three years.
Paul Dolan, chief executive of Riverside, who took over from the long-serving Carol Matthews in May, said the organisation still has “a lot of work to do to deliver our ambitious plans for the future and to work through the short-term challenges.”
Community Voice Carlisle is published by Carlisle Tenants` and Residents` Federation. For information about the federation, ring 01228 522277.
