Swan eyes Sanctuary as Orbit merger collapses

Susan Hickey, chief executive of Swan, said that Sanctuary presents an “excellent strategic match” as a provider of housing and care with a presence in London and Essex.

She said: “We’re committed to exploring opportunities that will ensure Swan can continue our vital work in serving our customers, regenerating local communities and delivering on our local partnership commitments.

“As a leading provider of housing and care which already has an established presence in London and Essex, we believe Sanctuary presents an excellent strategic match.” 

Craig Moule, group chief executive of Sanctuary, said: “As one of the largest housing and care providers in the country, we’re focused on ensuring the strength of the sector and that any collaboration opportunities ultimately benefit residents of both organisations.

“Swan has a good geographic fit with our existing footprint, and we are aligned on social purpose.

“The challenges that the sector faces at the moment are unprecedented – a challenging macro-economic environment, investment in building safety, the need to future-proof our homes and, of course, the cost of living pressures which are disproportionally affecting the most vulnerable in society.

“This means housing associations need to think creatively and be open to opportunities.”

Last month, Mark Hoyland, who is stepping down as chief executive of Orbit in Spring next year, said that talks were progressing “positively” and that, if agreed, the merger should be completed late this year.

Following its non-compliant rating, Swan appointed former Peabody chief financial officer Susan Hickey as acting chief executive and hired two new board members in December. Its group finance director James King stepped down in January.