Peabody and Family Mosaic housing associations have announced plans to merge to create a giant 55,000-home landlord. The formal merger expected to complete in July 2017.
Affinity Sutton and Circle Housing Group have completed their ‘mega-merger’, joining forces to become Clarion Housing Group, the UK’s largest housing association and one of its biggest house builders.
The new company – which will have 125,000 units across 176 local authority areas under management – was launched officially on Wednesday with plans to build 50,000 new homes across all tenure types over the next 10 years, of which two-thirds will be affordable. This is around 30,000 more homes than the planned output of the two individual groups.
Clarion has a combined turnover of £827m, a surplus before tax of £233m and existing assets worth £20bn. Keith Exford, who was chief executive of Affinity Sutton, becomes group chief executive of Clarion, with Circle chief Mark Rogers acting as deputy chief executive.
L&Q and East Thames have completed their mega-merger, alongside a £2.6bn refinancing deal with seven banks.
The pair announced the conclusion of their merger to the stock markets this afternoon, following a year of detailed negotiations.
They create a new 90,000-home organisation, which will retain the L&Q brand and has set out a £15bn plan to build 100,000 new homes – half of which will be affordable.
Sir Peter Dixon was announced as the new chair of Amicus Horizon and Viridian Housing are due to form a new 44,000-home landlord when they merge in the spring.
The former chair of the Housing Corporation has been named chair of a new housing association, once its merger completes in the New Year.