Partner Article

North East landlords merge to form one region-wide organisation

Three of the region’s social landlords have announced plans to merge together to form one region-wide organisation with more than 23,000 homes.

Isos Housing, based in Newcastle, and group partner Cestria Community Housing, are finalising a merger with Derwentside Homes, based in Stanley, County Durham.

Having secured conditional approval from their regulator, the Homes & Communities Agency (HCA), the landlords will start trading as one organisation this April.

The partners say they plan to leverage their combined scale to ramp up their already sizeable development capacity to build more homes of all tenures for the North East.

In total, the three landlords already own and manage over 23,500 homes across the North East and together they would generate turnover of over £114m per annum.

Paul Fiddaman, group chief executive of Isos Housing Group, said: “We believe that this move will establish us as a strong regional organisation, positioning us as a natural partner for delivering housing solutions for the North East region.

“This is a hugely exciting opportunity. It is clear that we are like-minded organisations, with a great deal in common and many complementary strengths.

“Coming together will further raise our presence and profile, building on the successful partnership between Isos and Cestria.”

Geraldine Kay, chief executive of Derwentside Homes, commented: “Derwentside Homes were keen to select a partner that shared our ambitions to co-create a new and exciting future.

“Together with Isos Housing Group, we will be much stronger to not only weather the many challenges ahead but to seize new opportunities so that we continue to deliver innovative housing solutions and services and build on our collective success.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →