Merger process concluded
Bromford Flagship is pleased to
announce that the merger between Bromford Housing Group Limited and
Flagship Housing Group Limited successfully completed today (28
February 2025).
Bromford Housing Group Limited has
been renamed Bromford Flagship Limited and serves as the Group
parent. Flagship Housing Group Limited has been renamed Flagship
Housing Limited and is now a wholly owned subsidiary of Bromford
Flagship Limited. The Group structure also includes Bromford
Housing Association Limited, Merlin Housing Society Limited, and
other existing entities of both organisations. Collectively, the
organisation now owns and manages approximately 80,000
homes.
This marks a significant milestone
in our strategic goal of unlocking additional capacity for
affordable housing. Completion follows comprehensive due diligence,
regulatory approvals, and stakeholder consultations.
Board and Executive team update
As part of the merger, the newly
formed Board of Directors and Executive team have been confirmed.
The Board will be chaired by Peter Hawes, who has been Chair of
Flagship Group with Robert Nettleton appointed to the role of Chief
Executive Officer for the whole Group. Paul Walsh has been
appointed as Chief Finance Officer of the new organisation,
continuing in the same role he previously held at
Bromford.
This leadership structure ensures
continuity, strong governance, and a blend of expertise from both
organisations. More information on the wider team can be
found here.
Robert Nettleton, Bromford Flagship CEO
said:
"The need for affordable homes, the quality of service we
provide to customers, and an absolute focus on place has never been
more important. The need to unlock additional capacity that enables
housing associations to deliver at scale has also never been
greater.
"We're excited about the huge potential this opportunity
offers and ultimately the ability to enable more people to
thrive."
Benefits and strategic objectives of the
merger
The creation of Bromford Flagship
releases significant additional financial capacity exceeding
anything either party could achieve alone.
This increased capacity could enable
the organisation to deliver 2,000 homes each year for the next 30
years, with the aim of providing 50% of these homes at social
rent.
It will also allow Bromford Flagship
to introduce new and innovative investment 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, and where customers and communities can
thrive.
Bromford Flagship will also develop
two new exciting initiatives:
·
The establishment of a Learning Academy to offer
training opportunities to both colleagues and customers;
and
·
A new Research and Development Team focusing on
customers' priorities and services
Next trading update
The Group intends to publish a
trading update in May 2025, providing an update on financial
performance.
Bromford Flagship Ltd is registered
as a charitable community benefit society under the Co-operative
and Community Benefit Society Act 2014 with registered number
29996R and as a registered provider with the Social Housing
Regulator with registered number L4449.
ENDS.
