Andrew Lovegrove, Chair of Charter, said Sanctuary was chosen because it aligned closest with a series of aims and values set out in the Charter business plan.

“The board are delighted to announce the decision to join the Sanctuary Group,” he said. “By joining the group Charter will be able to continue to improve the services provided to residents and to unlock housing development potential in the Cherwell area to provide additional affordable homes."

Charter will be moving to new purpose built offices on Banbury Business Park, Adderbury in September, a move which is planned to coincide with joining the new group.

Sanctuary Housing Group are based in Worcester and presently own and manage almost 53,000 homes throughout England & Scotland. It has a number of subsidiaries including Hereward Housing, Beth Johnson, Asra Midlands, Rochford Housing Association and Shiregreen Community Homes.

By April 2007, Shaftesbury Housing, Banbury Homes and Kingsmead Homes will also be part of the Group and in July 2007, 1,700 homes will transfer from Rochford District Council to Rochford Housing Association, a subsidiary of Hereward Housing. It will grow a further 3,500 when Charter joins the Group bringing the total to around 68,000 homes. The Group operates in over 190 local authorities, with the largest proportion of homes being located in London and the South East.

At present the Group employs 4,300 full time equivalent staff.

Graham Stacy, Group Chair of Sanctuary said: “We are delighted that Charter has selected Sanctuary and look forward to working closely with them. Sanctuary and Charter understand how crucial it is that our services are responsive and tailored to suit local needs and we are confident that the strength of our partnership will result in an enhanced service for Charter’s residents.”

Charter was formed in 2004 and currently manages around 3,500 properties that formerly belonged to Cherwell District Council.

Cherwell District Council's Portfolio Holder for Housing, Cllr Miss Debbie Pickford, said: "The council is extremely pleased with Charter's choice of partner. We support their decision, which will see Charter become a subsidiary of a larger, robust organisation, capable of achieving efficiency gains and attracting funding for new affordable homes in Cherwell. Charter will now be better placed to deliver the transfer promises made to tenants and build on their already considerable successes.

“The new partner is highly regarded by the Housing Corporation. It all adds up to even greater financial security for the tenants who can look to the future with renewed confidence."

9th March 2007