Flagship Group and Victory Housing Trust have today (Wednesday 2 January) agreed to work in partnership creating the largest housing association in the East of England owning and managing 28,000 homes.
Over the next 10 years, the new partnership has set an ambitious target to invest £534m in maintaining and improving existing homes and to build more than 10,000 new homes. An important part of this is to develop as many new social rented homes as possible. The partnership will save over £38m in its first ten years and its development investment is expected to support 400 new jobs.
Victory has joined Flagship as a subsidiary retaining its identity and ensuring continuity of tenancy for its Norfolk residents as well as stability for its staff.
Peter Hawes, Chair of Flagship Group, said: “We are both strong and successful housing associations, but together we can be even stronger and more successful. Collectively, we have enhanced financial strength, greater effectiveness and efficiency, the ability to invest more in our existing homes, and support our customers.”
Philip Burton, Vice Chair of Flagship Group (former Chair of Victory Housing Trust), added:
“This is an exciting time for Victory as together we can deliver more affordable homes and better-quality services to our residents and our communities. The partnership will create organisational growth and also greater opportunities for individual growth and progression for our staff.”