C&C AND ASTER GROUP ANNOUNCE INTENTION TO MERGE

Central and Cecil (C&C) has announced plans to merge with Aster Group, subject to final business case approval being granted later this year.

The merger, which follows Aster Group’s merger with East Boro Housing Trust (EBHT) in early 2020, would create a combined group, offering 34,500 homes for the benefit of approximately 100,000 residents.
The partnership promises to deliver hundreds of new safe and affordable housing solutions for the over-55s across London, adding to C&C’s existing portfolio of 2,000 homes.
Current residents are also set to benefit, with faster planned investment in C&C’s properties, new digital services that would enable greater independence, and the provision of more care services to support people aged over 55.
Julia Ashley, CEO of C&C, said: “This merger would present a fantastic opportunity for C&C to meet the growing demand for over 55s housing and care in London and beyond. By partnering with an organisation that shares our values and aspirations, we could invest far more in our homes, services, colleagues and new technologies, and be even more ready to meet a growing demand.”

Bjorn Howard, group CEO of Aster Group, said: “Social housing will play a central role in our nation’s recovery post-COVID-19, and it is essential that we are in the best possible position to build much-needed new affordable homes and offer vital services to a diverse range of customers. Our partnership with C&C would help us achieve both of those fundamental ambitions and see us provide access to quality, affordable homes in central London for the first time in our organisation’s history.

“C&C’s expertise would help to further evolve the services the group as a whole offers to customers and as a combined business we would have greater scope for innovation, and in the transformation of digital services as well as providing employees with a strong and competitive offer. The expanded capacity created by the partnership will also enable us to invest more in new and existing homes than either organisation could alone.”

Aster Group is a housing association operating across the south of England. It owns and maintains over 32,000 homes, providing services to around 93,000 customers, and employs more than 1,450 people.