Three of London’s largest housing associations are planning to form a 135,000-home social landlord capable of building 100,000 homes in 10 years, ccording to inside housing.
L&Q, Hyde Group and East Thames have opened talks on the biggest merger in the sector’s history and hope to make the new group the fourth largest house builder of any kind in the UK.
The combined organisation would have a turnover of £1.1bn, a book value of more than £30bn and own more than 5% of the English housing association sector’s stock if the merger goes ahead.
It follows Affinity Sutton and Circle’s plans for a 125,000-home merger, and comes at a time when the housing association sector is under increasing pressure to up its output and increase efficiency.