Thursday, 23 October 2014

Merger talks to create 26,000-home landlord start

A merger between two housing associations which could create a 26,000-home landlord and create savings of £8 million is currently under discussion.

Synergy Housing and Aster Group are locked in talks over plans to merge the two companies in a bid to deliver ‘improved quality and value’ for tenants and other customers.

The landlords have a combined 70,000 customers and 1,800 staff between them and manage homes across central southern and south west England.

The proposal to merge is now being discussed with tenants, staff, local authorities and regulatory authorities in the hope of developing the idea to allow a formal merging in autumn 2012.

Graeme Stanley, Synergy chief executive, and Bjorn Howard, Aster Group chief executive, said:  ‘Synergy and Aster are very similar organisations and are passionate about the same things, in particular ensuring that tenants and customers are at the heart of our business and delivering services locally. This proposed merger would provide exciting opportunities for both our customers and staff.

‘If we come together we’ll be a major provider of housing, care and support in the central south and south west. We’ll be able to have more influence and strength to change and improve things for our tenants and other customers.’

The landlords said that the main objectives for the proposed merger were to ensure the two groups have future resources and funding to meet tenants’ needs and to build more homes. It is estimated the merger could provide savings of £8 million in the first five years.

Readers' comments (6)

  • As a housing association consortium a little smaller than this merger (24,000 homes / 900 staff), I would be very interested to know what the savings of £1.6m / year will be. I'm not doubting - would just like to know.

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  • Rick Campbell

    I am not a believer that bigger is always better.

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  • BlokeWithAConscience

    Hi Ian,
    "savings" are what you get when you sack your loyal staff.

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  • This surely brings together 2 Housing Associations with the same visions for a sustainable future for tenants & employees. Historically they have both originate from the same type of backgrounds and therefore have the same level of know-how collected on the way.

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  • munchboss

    hi all
    rick ime a tennant of this group and also believe that sometimes bigger isnt better , but so far this is working out, only time will tell
    ian , sometimes you have to prune a bush to sustain its life and improve it and this bush is looking ,acting and growing better by the day , it doesnt mean there is no dead wood still inside , but at least it gets a chance to grow spread and flower rather than wither away in the corner

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  • munchboss

    hallo again sorry but my last comment i mistakeingly aimed it at ian and really it was to answer a comment made by mbpb , apologies to ian and foot note to you as well i wouldnt call it doubt ide call it honest suspicion and ther aint nowt wrong with that

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