Housing associations announce mergers
Housing association merger fever is in the air – well, one’s been confirmed, and another’s seen talks begin, which qualifies as a ‘fever’ as far as I’m concerned.
Firstly, Severn Vale and Bromford have confirmed that they will become as one in the new year – a move which they say will lead to the delivery of thousands of new homes over the next 10 years.
Tim Knight, Severn Vale’s CEO, said: ‘This is fantastic news for our customers and for colleagues. By joining Bromford, we can play a central role in Gloucestershire’s ambitious plans to develop more homes for social housing, our customers will be able to build a closer, more positive relationship with us as landlords through the neighbourhood coach approach.’
Bromford CEO Philippa Jones added: ‘Both the Bromford and Severn Vale boards are confident that this merger will create an even stronger organisation that will be able to build even more new affordable homes over the next ten years to help tackle the housing crisis.’
The union follows Bromford’s partnership with Merlin in July and will bring the new organisation’s stock to nearly 44,000 homes.
Now, the second merger isn’t a merger as such – it’s potentially a merger. Peabody and Town & Country Housing Group have confirmed that they’ve begun talks about possibly fusing, with a decision due in the new year, so we’ll see then.
Under the plans, Town & Country will become a distinct subsidiary of Peabody, which the HAs say will enable them to deliver 800 new homes across the South East every year.
Peabody chair, Lord Kerslake, and Francis Salway, chair of Town & Country, are getting on so well they’ve put out a joint statement: ‘This move brings together two strong organisations to deliver more much needed homes in the South East.
‘We share a strong social purpose to support vulnerable people in housing need. Our combined scale and focus will enable us to do more together than we could achieve alone.’
And that rounds-up today’s merger news.