Under the proposals, the two housing providers would come together to form a 78,000-home provider called Bromford Flagship
Bromford and Flagship have today announced their intention to merge, following agreement by both boards.
Under the proposals, the combined organisations would be known as Bromford Flagship.
Bromford and Flagship have said that their merger will unlock significant additional financial capacity, enabling them to deliver 2,000 homes annually for the next 30 years, with a goal of providing 50% of these homes at social rent.
Bromford Flagship said that the increased capacity will enable it to introduce “new and innovative investment” with the creation of a new Place standard, which will look at what is needed to create places where people want to live, “and where customers can thrive”.
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Bromford Flagship also affirmed its commitment to maintaining local accountability, retaining locally focused teams and continuing with their current delivery model.
The organisation aims to devolve more decision-making to local teams to ensure that customer services are delivered in line with customer wishes. These teams will be supported by the creation of a digital platform for customers and colleagues.
Peter Hawes, chair of Flagship, and Steve Dando, chair of Bromford, commented: “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”.
Bromford and Flagship will spend the upcoming months discussing and consulting the proposals with customers and colleagues.
Flagship owns over 32,000 homes in the East of England, while Bromford owns 46,000 homes across central and South-west England.
In April 2022, Flagship was in merger talks with BPHA and Futures Housing Group, which would have created a 60,000-home landlord spanning much of England and one of the largest housing associations in the UK.
The merger plan was abandoned in October 2022 due to “unprecedented” changes to the wider economic situation. The economic turmoil caused by factors such as the war in Ukraine, Brexit, and pandemic-related disruptions led to this decision.
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