Merger created major housing association with big plans
A deal between two South West housebuilders has created a major new housing association with plans to build 50,000 new homes by 2040.
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A housebuilder from Gloucestershire has merged with another business to create one of the UK’s largest housing associations.
The deal is said to mark a “significant milestone” in the group’s long-term strategy to deliver more genuinely affordable homes, and continuing to invest in, or regenerate, existing homes and services.
The merger brings together the joint forces of Tewkesbury-headquartered Bromford Flagship and Exeter-based LiveWest.
Robert Nettleton (pictured above), former group chief executive officer of Bromford Flagship, will become chief executive of Bromford Flagship LiveWest (BFL), with Jac Starr, former chairman of LiveWest, becoming group chairman of BFL.
Together the organisation will serve close to 300,000 customers across the South West, east and central area.
Nettleton said: “Almost three million people are using food banks, more than 170,000 children are living in temporary accommodation, and as a country we’re building fewer than 15,000 social rent homes a year against a need for 90,000.
“It is incumbent upon housing associations to step up and work with government and other key stakeholders to do more, and that’s why this merger makes so much sense.
“By bringing Bromford Flagship and LiveWest together, we’re unlocking an additional £1.5bn in capacity between now and 2040 – in addition to the £1.9bn we unlocked last year taking us to a total of £3.4bn in additional capacity.
“That means we can deliver over 50,000 new homes by 2040, including around 7,000 more than would have been possible as Bromford Flagship or LiveWest alone.
“That’s thousands of families and individuals each year getting the affordable homes they need to build or rebuild their lives and ultimately thrive.”