Two large landlords who provide care services and homes to the elderly are in merger talks over forming a 53,000-home organisation and the biggest specialist housing association in the country.
If the merger goes ahead, the new Anchor Hanover Group will have a combined turnover of almost £500m a year. Anchor had a turnover of £374m in 2016/17, producing a surplus of £10.6m, while Hanover’s turnover was £120.9m with a surplus of £12.2m. They claim the merger will allow them to build more new homes as well as developing enhanced services. In a joint statement, Jane Ashcroft, chief executive of Anchor and Dame Clare Tickell, chief executive of Hanover, said: “People can look forward to living longer than ever before.
More specialist housing and care will be needed going forwards, with new types of services. At Hanover and Anchor, we understand these changing needs. “We have ambitious plans and want to provide more services, driven by the needs and aspirations of the growing number of older people. A new, bigger organisation has the potential to provide the best value-for-money services for our customers now and in the future.” Ms Ashcroft is chief executive designate of the new organisation, while Stuart Burgess, the current chair of Hanover, is expected to chair the new board. The organisations are now consulting on the move and they are expected to announce their next steps in the coming months.