Stonewater and Mount Green Housing Association have agreed an intention to enter into a partnership, which would see Mount Green become a subsidiary of the Stonewater Group.
The announcement follows detailed discussions between their respective Boards who believe the partnership has the potential to bring together the key strengths of both organisations. Combining Mount Green’s local knowledge and understanding of their residents and the neighbourhoods and communities they serve, with Stonewater’s large scale ability to deliver at pace important infrastructure, such as; treasury management, development opportunities, digital technology and specialised expert services.
Both housing associations share ambitions to grow and a strong commitment to putting customers at the heart of what they do.
Bill Flood, Chief Executive at Mount Green, said: “At Mount Green we are very proud of our long history as an independent housing provider in Surrey and more recently North Sussex. Joining the Stonewater Group would offer Mount Green stronger financial security that will enable us to better guarantee our investment plans to make improvements to our existing homes, while building more much-needed affordable homes and make improvements more quickly to the services we offer our residents.
“We also see a fantastic opportunity to offer more potential choice and opportunities to our existing residents who would have access to a larger portfolio of homes from a much wider geography and support from Stonewater’s charitable arm — The Longleigh Foundation.”
Nicholas Harris, Chief Executive at Stonewater, believes the partnership will bring a range of benefits: “The values and vision of both our organisations are closely aligned, and together, we have the opportunity to combine the advantages of a national organisation, with the local knowledge and expertise that Mount Green has built over the last 60 years.
“With an ongoing housing crisis, post-Brexit impacts on supply chains and costs, as well as the climate emergency and the need to drive up customer standards, this partnership offers us the chance to enhance what we do now, and to bolster our future ambitions.”
While the partnership has been agreed in principle, talks will now continue to agree more detail, including due diligence, lender consents anand resident consultation, with a final decision expected towards the end of the year.
Header image: Bill Flood, Chief Executive at Mount Green (on the left) and Nicholas Harris, Chief Executive at Stonewater (on the right).
