The boards of Network Homes and Sovereign Housing Association have formally agreed to merge to form SNG (Sovereign Network Group).
When the merger completes on 1 October 2023, SNG will be one of the largest housing associations in the country with more than 82,000 homes across London and the South of England.
SNG intends to invest around £8.5bn in its existing portfolio and new homes over the next 10 years, with an annual development programme of up to 2,500 homes a year alongside an ambitious retrofit strategy.
Mark Washer (pictured), chief executive of Sovereign, who will become CEO of SNG, said: “Bringing these two great organisations together will enable us to invest in creating more homes, and better homes for our current and future customers. Combined, we will be a leader in delivering sustainable and affordable housing, including for social rent, as well as investment in communities. We are already seeing the potential for our complementary skills and experience to help us deliver better for each of our customers, and the future is hugely exciting.”
Helen Evans, chief executive of Network Homes, who will become deputy CEO of SNG, added: “I’m pleased we now have the green light to pursue this exciting new chapter for both organisations as we join together as one organisation. As deputy chief executive, I will be overseeing the transition and significant work is now underway to ensure we will have the right structures, systems, and processes to deliver for customers from 1 October onwards. I’m looking forward to working with Mark, our new executive board and colleagues in ensuring the new organisation is a success.”
