Peabody merger to create 55,000 home mega landlord
Housing association Peabody has announced it is to merge with Family Mosaic to create a new mega landlord providing homes across London and the South East.
Revealed today, the newly combined group will be responsible for 55,000 homes servicing over 110,000 residents in the capital and beyond.
Due to be completed in July 2017, the merger will bring together London-based Family Mosaic’s portfolio of 26,000 homes for rent across London, Essex and the South East with Peabody’s 29,000 homes in London under the stewardship of Peabody’s current chair, Lord Kerslake.
The deal will also see current Peabody Chief Executive Officer retire after 42 years working within the housing association sector.
In a joint statement, Lord Kerslake, Chair of Peabody, and Ian Peters, Chair of Family Mosaic, said: “The new group would build on the track record, capabilities and shared values of Peabody and Family Mosaic to create a truly distinctive organisation.
“Our combined scale and London focus would enable us to do more together than we could achieve alone.”
The pair claim that the newly merged entity, which would boast turnover of £618m, would help deliver more tailored services to the communities they serve and make a more lasting contribution to the capital’s housing crisis.
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