Two Essex landlords agree merger and reveal new name

Ian Green, chair of Estuary, has been appointed as designate chair of the board at the new landlord. Paul Edwards, chief executive of CHP, has been appointed as designate chief executive of Delta.

The designate executive team and designate board have also been appointed to lead the new association.

Mr Green said: “Our work exploring the merger over the past nine months has shown us we have much in common, including sharing similar visions, values and culture.

“Individually, we already provide high-quality homes and great services, so bringing the two organisations together gives us the potential to deliver even more. The need for affordable homes has never been greater.

“Delta will give us the capacity to invest more in the quality and safety of our existing homes, to grow and develop new housing across Essex and to be a more visible voice for the people who rely on social housing.” 

Mr Edwards said: “This is a pivotal moment for both CHP and Estuary, and I’m delighted that the boards agreed to move forward with the merger.

“It’s been a proactive choice to merge, so that we’re not only larger but also more capable and better equipped for the challenges ahead, while retaining our local focus, which we know our customers value. 

“A phrase we’ve used throughout this process is that, ‘We’ll be stronger together’. I believe that in Delta, we have an exciting future, building on the best of both organisations, that will be good for customers, employees and our partners now and in the future.”

In September 2024, CHP reported an improved operating margin by eight percentage points to 33.8% in 2023-24 after selling shared ownership homes to a for-profit partner.

The association’s operating surplus totalled £25.9m, an increase of £5.9m year on year, it said in its annual report for the year to 31 March 2024.

CHP said this was down to “sales of shared ownership equity to for-profit partners” – predominantly 168 shared ownership homes that were sold to M&G.