Peabody and Family Mosaic to merge in latest housing association combination

Housing associations Peabody and Family Mosaic are to unite in the latest of a series of mergers in the sector.

The merged organisation will keep the Peabody name and provide some 55,000 homes in London and the South East.

It will have development plans for 11,825 new homes and a combined turnover of £618m.

The two landlords said that merging would enable them to provide better value for money to residents and other stakeholders and enjoy greater resources with which to build homes and provide community services.

In a joint statement, Peabody chair Lord Kerslake and Family Mosaic chair Ian Peters said: “Our combined scale and London focus would enable us to do more together than we could achieve alone.”

After the merger, they said Peabody would provide care and support services to enable more residents to live independently for longer, “make a significant contribution to addressing London’s housing crisis”, regenerate the Thamesmead new town in south east London - owned by Peabody - and build more homes “genuinely affordable for those on lower pay”.

The new Peabody will be run by Brendan Sarsfield, chief executive of Family Mosaic. Peabody chief executive Stephen Howlett is to retire.

Other recent large mergers have involved L&Q with East Thames, and Affinity Sutton and Circle Housing, which have combined as Clarion Housing Group.