Peabody and Family Mosaic to merge
The new housing group would provide 55,000 homes on completion of the merger.
Peabody has agreed to merge with another housing association called Family Mosaic. The new single housing association and all subsidiaries would still be called Peabody and, on completion of the merger, would provide 55,000 homes to residents across London and the South East.
If you are a resident of Peabody, Family Mosaic or any of their subsidiaries, your landlord, tenancy or lease agreements would not change as a result of the merger. There would also be no changes to your rights and responsibilities or the way your rent is set.
Why is this happening?
Peabody and Family Mosaic fit well together. Family Mosaic has around 26,000 homes for rent (including affordable) in London and the South East. They also provide services to around 8,000 people who need extra support. By comparison, we at Peabody have over 29,000 homes across London and also offer additional support services as well as an extensive range of community programmes.
The boards of Peabody and Family Mosaic both believe that a merger would enable the two organisations to make improvements and add more services, providing better value for money to residents and other stakeholders. The larger group would also have better resources to build more homes and provide local community services, including helping more people into work through training, apprenticeships and volunteering.
Leadership of the new group
Our Chief Executive, Stephen Howlett, who has been Chief Executive of Peabody for over 12 years, had already decided that now is the appropriate time to retire after completing 42 years in the housing association world. He will stay in post until the merger is legally complete. Our current Chair, Lord Kerslake, would be Chair of the new combined organisation while Brendan Sarsfield, Chief Executive of Family Mosaic, would become the Chief Executive. Ian Peters, Chair of Family Mosaic, would take up the post of Vice Chair.
In a joint statement, Lord Kerslake and Ian Peters said:
"The new group would build on the track record, capabilities and shared values of Peabody and Family Mosaic to create a truly distinctive organisation. Our combined scale and London focus would enable us to do more together than we could achieve alone." You can read their full statement here.
What happens next?
The formal merger is expected to complete around July 2017 but there is a lot of work yet to do and we will continue to post regular updates about our progress on this website. In the meantime, the board of each organisation is particularly keen to hear what residents think before deciding whether or not to formally complete the merger.
This consultation has now ended.
We wrote to all our residents asking them to contact us with their views about this proposal by Friday 3 February 2017. Peabody, Gallions or CBHA resident were able to contact us by:
- emailing firstname.lastname@example.org (including address details)
- returning a feedback form that we sent out in the post
- completing an online form
- calling 0808 1643265 (free from UK landlines and UK mobiles).
Please note that this number was only for responding to this consultation. If you would like to speak to us about anything else, please contact Peabody Direct.