Two Essex landlords in talks to merge by end of year

The two landlords said the merger “would build on each organisation’s existing strengths by providing high-quality homes and services to local people across Essex and the surrounding area”. 

Paul Edwards, chief executive of CHP, and Ian Martin, chief executive of Estuary, said: “CHP and Estuary share clear strategic alignment, and this is a brilliant opportunity to bring together two strong organisations into one, which is why we believe there’s merit in further exploring a merger.

“We’re already committed individually to positively contributing to tackling the housing crisis within Essex. Together, we’d be a powerful influence on future housing strategy and further development in the county.  

“We share similar visions, values and culture, as well as matching geography. We think these similarities are huge benefits that would allow us to work effectively together to deliver the best possible service to our customers.”

Both landlords will now enter a period of due diligence and consult with customers, employees and stakeholders about the potential change.

Once the due diligence and consultation are completed, the boards of both organisations will make the final decision to merge or not.

CHP secured its first private placement in a £150m deal in November.

The landlord is rated G1/V2 by the Regulator of Social Housing, while Estuary Housing Association is graded G2/V2.

According to its 2023-24 financial results, CHP posted a surplus of £7.4m during the year, a rise from £2.5m in the previous year.

Meanwhile, Estuary Housing Association’s results showed its surplus fell from a restated figure of £1.7m in 2022-23 to £1.1m last year.