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Welsh housing associations complete merger
The merger of two housing associations based in Mid and West Wales has been finalised this week, two years after the landlords entered talks.
Mid-Wales Housing Association and Tai Ceredigion have merged to form Barcud, which will manage more than 4,000 homes across Ceredigion, Powys, North Pembrokeshire and Carmarthenshire.
Six months after the merger was formally confirmed by the landlords’ boards, the deal completed on Sunday 1 November following a period of due diligence and consultation leading to final approval by shareholders and lenders.
It marks the first ever merger of a traditional housing association and a stock transfer organisation in Wales.
The Barcud group includes Powys Care and Repair, EOM and The Care Society.
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A spokesperson for the newly formed housing association said the merger followed extensive consultation with tenants and leaseholders.
The joint tenant panel, made up of representatives from both organisations, was entirely in support of the merger and has been working hard to ensure the best outcome for tenants, the spokesperson added.
Steve Jones, former chief executive of Tai Ceredigion, will act as chief executive for the new group, having been appointed chief executive designate in September last year.
Mr Jones said: “Both associations share values and an ambition to address the shortage of much-needed quality, affordable housing in Mid and West Wales.
“We are ready to rise to the challenges faced by the local housing sector, and together with our partners within the local authorities and the support of Welsh government, we will be in an even stronger position to continue delivering on this objective. We will continue to listen to our tenants and work hard to develop a service that meets the needs of our communities.
“We believe that working as one organisation will strengthen our services and allow us to use our collective resources and expertise to help maintain, improve and build high-quality, energy-efficient, affordable homes within the communities.
“We live and work in these communities and want tenants and staff to be proud of the services we deliver.
“With our team’s in-depth understanding of the needs of the area and our combined strength and efficiency, we will be able to meet the range of housing needs in the heart of Wales.”
Karen Oliver, chair of Barcud, said: “Getting the detail for the merger finalised has quite rightly taken a while because all the partners and funders needed to be confident it would work for our tenants.
“That confidence is now there and the green light given to creating a strong new housing association for the heart of Wales.”
She added: “We are grateful to all the professional advisors in their thorough approach and excellent service to reach where we are today.
“I would also like to take this opportunity to thank all my colleagues at Tai Ceredigion and Mid-Wales Housing for all their hard work during the merger process whilst coping with the added stresses of COVID-19.
“It is a testament to their efforts and the commitment of my fellow shadow board members that we have arrived at this outcome today.”
