Pinnacle is first private firm to gain Housing Association accreditation

Social housing management firm Pinnacle has become the only private sector company to be approved by the Housing Corporation to manage government-funded social housing.

The Housing Corporation made the announcement that Pinnacle had secured the accreditation under its housing management framework, following new powers granted by the 2004 Housing Act.

The accreditation paves the way for Pinnacle and its partner organisations to offer the government a long-term funding, ownership and management solution for affordable housing.

The Regenter joint venture between John Laing and Pinnacle aims to bid for the National Affordable Housing Programme 2008/10 when the selection process for investment partners begins in April.

Pinnacle chief executive John Swinney said: "An ability to bid for grant to provide affordable housing, which could then be managed by Pinnacle will be a unique and holistic offer to government and the Housing Corporation, which we would hope will be of great interest and value."