Notting Hill Housing and Genesis will have a combined tunrover of £700m per year
Notting Hill Housing and Genesis Housing Association have agreed in principle to merge in a move that will create a one of the largest housing associations in the country.
The new organisation, Notting Hill Genesis, will manage 64,000 homes across London and the South East and generate a turnover of £700m. The merger would also create combined reserves of £3.1bn.
The combined financial strength of the two housing associations will enable the delivery of 2,700 new homes.
Genesis’ Dipesh Shah is to become chair designate of the new organisation, while Kate Davies from Notting Hill Housing has been named as chief executive designate and Elizabeth Froude, currently deputy chief executive and executive director of resources at Genesis has been appointed deputy chief executive designate.
Shah said: “Uniting two associations with a common culture, a common vision and an aspiration to enrich their social purpose augurs well for the future of the merged entity.”
The merger is expected to complete early next year.