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Aster confirms merger plans with care specialist
Large Southern housing association Aster Group has confirmed plans to merge with older people housing specialist Central and Cecil (C&C).
The new combined housing provider will own and manage 34,500 homes and, according to the associations, it will have a capacity to deliver 12,000 new homes by 2030 via a £2.5bn investment programme.
Aster currently owns and manages 32,000 homes in the South East and South West, with care specialist C&C managing 1,850 homes in London, predominantly for people aged over 55.
The merger is expected to take place in January 2022.
Plans for a merger were first announced in June, with the two associations stating the new group will enable £571m worth of asset management, maintenance, improvements and sustainability upgrades to existing stock.
The move will be Aster’s second merger in the past two years, having entered a partnership with Dorset-based East Boro Housing Trust (EBHT) early last year.
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Bjorn Howard, group chief executive of Aster, promised a phased integration of the two housing associations.
He said: “Reaching board and shareholder agreement is an important step forward in our shared vision for C&C to join the group in January.
“We have ambitious plans to deliver more housing and an enhanced service offering to our customers and welcoming a new member to the group puts us firmly on the path to achieving those goals.
“There will be a phased integration and, while customers won’t experience any immediate changes, the prospect of what we can achieve together in the long-term is exciting. Building more homes, better services and investing in technology – ultimately this partnership is about bringing together the resources and expertise that we both bring to the table and using them more effectively to improve the experience for our colleagues and customers.”
Julia Ashley, chief executive of C&C, said: “This merger presents an exciting new chapter for C&C at a time where we are celebrating our 95th anniversary.
“Through this new partnership, our residents can benefit through accelerated investment in our existing properties and services including in care, and building new homes to add to our existing portfolio of affordable housing for over-55s in London.”
In September, Aster was selected as one of Homes England’s strategic partners and secured up to £114m in funding to develop new homes.
