You are viewing 1 of your 1 free articles
South of England landlords seal tie-up to form 50,000-home group
Abri and Silva Homes have officially completed their merger to form a 50,000-home landlord, nearly seven months after the plans were first made public.
The tie-up has been sealed after the final business case and some “formalities” were approved last month, the landlords said.
Under the deal, 7,500-home Silva Homes will initially operate as a separate legal entity as part of the Abri group, before transferring over next year.
Plans for the merger were announced in March.
READ MORE
In its last full year to the end of March 2023, Berkshire-based Silva Homes saw its surplus bounce back, jumping nearly fourfold to £12.6m helped by an increased turnover.
Hampshire-based Abri Group’s post-tax surplus rose 46% to £39.5m in its last full year.
Gary Orr, chief executive of Abri Group, said: “As a financially stronger and more resilient organisation, we’ll be able to continue delivering quality homes and services for our customers and better connect to our local communities to meet their diverse needs.”
Under a new regional approach from Abri, it has spilt its operations into three geographical areas. Silva will be part of its new South East region.
Each region will have its own local governance and leadership, including a regional managing director and regional board, Abri said.
Dasos Christou, previously Silva’s executive director for customer relations, has been appointed regional managing director of the South East, which includes Bracknell, Windsor, Maidenhead, Slough and Woking.
Alan Ward, previously Silva’s chief executive, has become Abri’s chief governance and strategic growth officer. Graeme Stanley, chair of Silva, has stepped down after nine years at the organisation.
Sign up for our development and finance newsletter
Already have an account? Click here to manage your newsletters
