Bromford Housing Association in talks to combine with Flagship Housing

Bromford Housing Group Limited, one of the UK's biggest housing associations which has more than 47,000 homes spread across central and south west England has confirmed it is in talks with Norwich-based Flagship Housing Group Limited, which has has more than 32,000 homes, with a view to forming a business combination.

Merging these two strong organisations will release significant additional financial capacity over and above what either party could achieve alone, Bromford said in a statement.

This increased capacity will allow Bromford Flagship to deliver 2,000 homes each year for the next 30 years, with an aim of providing 50 per cent of these homes at social rent.

Bromford Flagship will maintain their locally-focused teams and delivery model, and has pledged to devolving more decision making to local teams to maintain customer service.

Bromford Flagship’s increased capacity will enable it to invest in a new " with the creation of a new "Place Standard" – looking beyond the fabric of each home to consider what is required to turn a ‘street’ into a ‘place’ where people want to live.

The new entity will also establish a learning academy to offer training opportunities to staff and customers.

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”. 

The business combination will be subject to the registration by the Financial Conduct Authority.