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Housing associations complete merger to create 38,000-home landlord

Radian and Yarlington have completed a merger to create a new 38,000-home landlord for the South and South West of England.

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L-R:Ralph Facey, Caroline Moore, Anne Wildeman, Gary Orr, Andy Skarzynski, Sam Leigh & Stephen Lodge
L-R:Ralph Facey, Caroline Moore, Anne Wildeman, Gary Orr, Andy Skarzynski, Sam Leigh & Stephen Lodge
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Housing associations complete merger to create 38,000-home landlord #ukhousing

The two associations confirmed that the partnership has been officially completed today, after talks began in April.

The new large organisation now has plans to build an additional 10,000 homes over the next decade.

The group has also said it will give them more of an opportunity to invest in additional resources for homelessness prevention, community building, and the rolling out of new digital services to customers.

Yarlington will now become a subsidiary of Radian, with both organisations operating with a shared board, executive and senior leadership team.

The new organisation will be led by Gary Orr, chief executive of Radian, who joined the organisation from Yarlington last year.


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Two weeks ago, credit ratings agency Moody’s reaffirmed the two associations credit ratings, with both maintaining their A3 issuer rating and an A3 rating on their longer-term secured debt, as well as stable ratings for their outlooks.

The agency said the affirmation was “based on the expectation that the credit strengths of the merged entity will reflect those of the standalone entities, including strong financial performance, very strong liquidity, debt metrics in line with peer medians and a modest capital expenditure burden”.

Commenting on the merger, Mr Orr said: “Having embarked on initial discussions earlier this year, it became evident through a period of thorough consultation and due diligence that we could provide an even better service for our customers by forming this new company.

“Combining our skills and resources means we can further increase our programme of new homes delivery, but at the heart of all this our commitment to our customers and our social purpose remain unchanged.

“We will continue to provide homes to those who are in need of affordable housing, while offering the opportunity of homeownership to those who would otherwise be unable to afford it.

“At the same time we will continue to support the communities in which we work by facilitating access to employment opportunities and training while improving our digital services.”

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