New Lanark Homes Ltd is to be integrated into New Lanark Trust in a cost-saving move.
The charity said employees and tenants of its 45 rented residential properties would not be affected by the change which comes after a review of the Trust’s legal and management structures.
The trust has decided it does not need a subsidiary company to act as letting agent and that it would be more efficient for the trust itself to manage homes in New Lanark village.
Subject to the Office of the Scottish Charity Regulator (OSCR) approval and any taxation issues, New Lanark Homes Ltd will be wound up and it assets transferred to the Trust.
Scott McCauley, chief executive of New Lanark Trust, said “The change will bring overall efficiencies and savings for the Trust but will not affect existing tenancy agreements or rent levels.
"New Lanark Homes staff are already integrated into the day to day work of the Trust. Their employment contracts will transfer to the Trust with no change, in compliance with the TUPE regulations.
“Three of the flats owned by the Trust are currently vacant and we are looking at diversifying the housing options we make available, including looking at market rent and furnished tenancies.
“In making this change the Trust acknowledges the contribution of the non-executive directors of the Trust, who have given their time freely over the 11 years of operation of New Lanark Homes."
