Sanctuary is also planning on combining its activities and those of Shaftesbury in parts of the South East, London and East of England so that the South West and South East become two distinct areas.
The merger also involves the separate activities of Banbury Homes and Kingsmead Homes which, under the move, have become subsidiaries of Sanctuary. Shaftesbury’s care and supported housing division, Ashley Homes, was acquired by Sanctuary last April.
Shaftesbury’s move to join Sanctuary Housing is the latest in a series of mergers over the past two years which have seen Beth Johnson Housing, Asra Midlands and Hereward Housing join the Group.
Sanctuary Housing Group Chief Executive David Bennett said: “I am delighted that Shaftesbury has joined the Group. This move will allow Shaftesbury to capitalise on a wealth of new resources and expertise and will lead to an improvement in the provision of housing services to its tenants.”
Ian McDermott, MD of Shaftesbury Housing, said: “This partnership will draw on unique strengths of both organisations to respond effectively to the needs of our tenants. Shaftesbury is looking forward to a bright future as a member of the Sanctuary family. This is a new beginning for the organisation.”
The boards and executives of both housing providers have agreed that Shaftesbury should join Sanctuary and the deal has been supported and approved by the Housing Corporation. Shaftesbury’s tenants and shareholders have been consulted on the merger and arrangements for the move were completed on 2nd April.
2nd April 2007