Companies merge to create one landlord

Northumberland Gazette latest
Northumberland Gazette latest

Three of the North’s leading social landlords have launched a new regionwide landlord known as Karbon Homes.

Isos Housing, group partner Cestria Community Housing and Derwentside Homes, will now all work together under the Karbon Homes banner.

Karbon manages 24,000 homes across the North East and is one of the top three housing associations in the region.

The business will generate turnover of around £115million per annum and build more than 500 homes each year to rent or buy.

In total, Karbon Homes will develop around 2,400 homes over the next four years – combining the existing development programmes of Isos, Cestria and Derwentside.

By coming together as one and driving out duplication, Karbon believes it can generate capacity to more than double its existing development programme.

It is calculated that the merger, under one organisation with its new brand, will deliver minimum net savings of £3million per annum from the fourth year of Karbon Homes operating.

The new branding and identity for Karbon will be phased in, starting in early May.