Silva would become a subsidiary of Abri if the deal goes ahead
Housing associations Abri and Silva are in advanced talks to merge and have agreed an outline business case, the organisations announced today.
The smaller association, Silva, which owns about 10,000 homes and has 14,000 customers, would become the subsidiary of Abri.
Together they would own and manage 45,000 homes and have 114,000 customers in the south of England.
Gary Orr, group chief executive of Abri said: “Abri and Silva offer each other an excellent potential fit. Alongside our geography, we share the same fundamental purpose, and very similar objectives. Most importantly, we’re both committed to delivering the best possible services through local teams who are close to their customers and communities.”
Alan Ward, chief executive of Silva Homes, said: “Silva and Abri are strong organisations and our boards believe that together we will be better placed to improve services to our customers, and be more financially resilient. Combining resources and capabilities is in the long-term interests of our customers and we’ll have more capacity together than apart.”
If the merger goes ahead, it will also bring Silva’s development aims into Abri’s strategic partnership with Homes England. Silva’s strategy for 2021/2025 states it wants to provide a minimum of 1,100 new homes over a rolling 5 year period. Homes England named Abri as a strategic partner in 2021.
Both housing associations will retain their G1/V1 regulatory ratings. Ward said customers would be consulted on the plans.
The boards are expected to make a final decision later this year, subject to those customer consultations, the approval of Silva’s shareholders and the agreement of both boards to the final business case.
Abri has around 40,000 homes and assets, and works with 37 local authorities and across 56 parliamentary constituencies.
Silva is part of Wayfarer, a consortium of housing associations, local authorities and charities across the south of England, which has access to Abri’s construction framework procured to build at least 10,000 homes over the next decade.
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