Manchester landlords’ 34,000-home merger delayed

In a separate update to the markets today, Great Places said the merger will complete on 30 September. “The boards of both organisations have now approved the final business case and we are on track with the required consents,” the filing said.

The designate executive team for the new organisation has also been confirmed. As previously announced, Matthew Harrison, chief executive of Great Places, will step down after nine years in the role and Charlie Norman, chief executive of MSV, will take the top job at the newly formed group.

However Helen Rourke, who was originally due to be the new group’s executive director of finance, is leaving to take a role in the education sector. 

Phil Elvy, executive director of finance at Great Places, was initially announced as chief financial officer designate for the new group.

However it was revealed in March that he was quitting Great Places after 17 years with the organisation. 

As a result, Great Places said today that it will be recruiting externally for a new chief financial officer for the new group “imminently”. Mr Elvy has also agreed to defer his departure until an appointment has been made and a handover has taken place.

Francesco Elia, a former executive at Clarion pre-cursor Circle Housing and specialist interim CFO, is also joining MSV to provide interim support. 

Last December, Great Places and MSV were both downgraded to V2 for financial viability amid a widespread wave of action by the regulator to reflect macroeconomic conditions.

If completed, the merger would mean MSV will join Great Places through a transfer of engagements.

Great Places is the larger of the two organisations, with 24,000 homes across the North West and Yorkshire, and the newly formed group would retain its name.

MSV operates homes across Greater Manchester, Lancashire and West Yorkshire.