“£51.7m Lend Confirmed, Board Assures Stakeholders That ‘Regret’ Is an Asset on the Books”

A council-owned housing company, James Elliman Homes (JEH), which received a £51.7m loan to acquire properties for the rental market, could be wound down following years of financial losses and governance concerns. JEH, owned by Slough town Council and established in 2017, has faced sustained criticism over its management and financial performance, with the council’s leader Wal Chahal describing it as having been set up “very poorly” and managed “very badly.” An external review presented to councillors outlined options including a managed closure over up to two years or continuing the organisation in a limited role focused on providing temporary accommodation, while repayment of the council loan is scheduled for 2028 and 2029. Council officials acknowledged significant uncertainty over the company’s assets, with acting director of property Peter Walsh stating that the authority does not currently have a clear understanding of what JEH owns. Chief executive Will Tuckley said the situation had been problematic for some time but that the review provided a clearer strategic direction, although no final decision has yet been taken on the company’s future.