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Housing associations Bromford and Flagship have revealed plans to merge.
Under the plans, the landlords would form a new organisation called Bromford Flagship that will aim to deliver 2,000 homes a year for the next 30 years, with a target of 50% for social rent.
Proposals for the tie-up have now been agreed by the boards of both providers, Flagship said on 26 June.
The merger would release “significant additional financial capacity” for the organisations, it added, “above what either party could achieve alone”.
At present, Bromford owns 47,000 homes across the Midlands and South West England, while Norfolk-based Flagship owns 32,000 homes.
Bromford Flagship would maintain the organisations’ commitment to “local accountability” and devolve more decision-making to local teams. It will also create a “leading digital offering” for residents.
The merged organisation will create a new ‘place standard’, which will consider “what is required to turn a ‘street’ into a ‘place’ where people want to live”, Flagship added.
It will also establish a learning academy to train residents and colleagues and create a research and development team.
Bromford and Flagship will spend the upcoming months “discussing and consulting the proposals” with residents and colleagues.
In a joint statement, Peter Hawes, chair of Flagship, and Steve Dando, chair of Bromford, said: “The need for affordable homes, the quality of service that we provide to customers and an absolute focus on place has never been more important.
“The need for strong housing associations that can deliver at scale has also never been greater. As forward-thinking organisations we have robustly reviewed the benefits from coming together and strongly believe that we can do more for our existing and future customers.
“Our aim is to secure significantly increased investment, to improve existing services and deliver more benefits for current and future customers. We are excited about the huge potential this opportunity offers and the difference it could make to people’s lives and local communities”.
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