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Town and Country Housing (TCH) has joined Peabody in a move that allows the former to build 800 new homes every year – 500 more than the Kent-based association would have built alone.
Originally announced in November last year, the move has been finalised following extensive consultations with residents and stakeholders – with the relevant consents achieved yesterday (9th May).
TCH will retain its name and executive team while operating as a subsidiary, with CEO Bob Heapy joining Peabody’s executive team and chair Francis Salway joining the board.
In a joint statement, Salway and Lord Kerslake said: “This move combines the strength of two organisations to deliver more much needed affordable homes in the South East.
“Becoming part of the Peabody family, while remaining as a separate subsidiary, will help strengthen Town and Country’s offer in the South East, ensuring Peabody remains focused on its heartland in London.”
Peabody houses more than 111,000 people across London and the South East, with the group now owning and managing 66,000 homes.
TCH provides 9,500 affordable homes across 15 council areas in Kent and Sussex.
