Peabody and Town and Country Housing Group (TCHG) have today announced plans for TCHG to become part of the Peabody Group. Over the coming months, the organisations will be working on the relevant consents and consultations with a view to making a final decision next year.
Under the proposals, TCHG would become a distinct subsidiary of Peabody. This would enable the organisations to combine strength to build 800 quality new homes across the South East every year. This is 500 more homes than TCHG would be able to deliver on its own and would take Peabody’s new homes target to 3,300 per year from 2021.
In a joint statement, Lord Kerslake, Chair of Peabody, and Francis Salway, Chair of Town & Country Housing Group, said:
“This move brings together two strong organisations to deliver more much needed homes in the South East. We share a strong social purpose to support vulnerable people in housing need. Our combined scale and focus will enable us to do more together than we could achieve alone.”