Joint landlords and their newly formed housing association
- 05 Jan
The joining together of two social landlords has led to the newly formed 31,000-home housing association.
The two landlords, Jephson and Raglan, made an announcement that they would work together in the autumn of 2013. They introduced their new enterprise, Stonewater, on 31st December 2014, 24dash reports.
The new organisation has around £160 million in turnover and £1.6 billion in assets.
The Homes and Communities Agency gave its assent to the merger in September 2014.
Chair of Stonewater's board, George Blunden stated, "Everyone has worked incredibly hard to establish the new organisation and we're now focused on working towards our goal - which is for everyone to have the opportunity to have a place they can call home, particularly those who may be disadvantaged or vulnerable and whose needs are not met by the open market.
"With the ever-growing need for affordable housing, Stonewater will deliver meaningful benefits for residents, employees, the business and our partners. I'm delighted and proud that one of our first achievements will be leading one of the UK's largest development programmes which will provide more than 7,000 new affordable homes over the next ten years."
Stonewater CEO, Bob Strachan said, "We have a tremendous opportunity ahead of us and will be focusing on continuing to deliver excellent customer service while making a steady transformation in our operations to achieve our ambitious goals."
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