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Aster completes third tie-up since 2020 as disability charity joins group

News03 Oct 2022James Wilmore

Aster Group has completed its third tie-up in the past two-and-a-half years after taking on a disability charity as a subsidiary. 

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Aster completes third tie-up since 2020 as disability charity joins group #UKHousing

The 35,000-home landlord announced today it has completed a deal to make Hampshire-based Enham Trust a part of the wider group. Plans for the merger were first announced in August. 

 

Enham Trust, which supports disabled people to live independently, operates 316 homes across Hampshire, Somerset, Wiltshire and Plymouth. It will retain its name and charitable status.

 

Bjorn Howard, chief executive of Aster, said: “The decision we have taken is about doing the right thing in challenging times.

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“By working together, Enham Trust can draw on the larger resources and expertise of our group, protecting its 100-year legacy, and ensuring it can provide high-quality housing and care services across its communities into the future.”

 

Simon Williams, chief executive of Enham Trust, said: “The merger is the right move for the trust, our residents and the communities we serve.”

 

Aster has upped its merger and acquisition efforts over the past three years.

 

In March 2020, the landlord took on Dorset-based East Boro Housing Trust as a subsidiary.

In January this year, London-based housing trust Central and Cecil became a part of Aster. 

 

In its last full-year, Aster’s pre-tax surplus nearly quadrupled to £170.6m as it was boosted by a £119.4m gain from its acquisition of Central and Cecil. 

 

Aster is aiming to build 11,000 new homes by 2030 as part of a £2.4bn development plan.

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Housing Association/RPMergers and AcquisitionsSouth EastSouth West
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