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.