Aldwyck celebrate successful merger with King Street Housing Society
Aldwyck Housing Group and King Street Housing Society successfully merged on 3 April just seven months after announcing they had entered into talks.
The merger, by way of a transfer of engagements of 600-home King Street, into the Aldwyck Group will result in a £40m development investment in building more new homes in Cambridgeshire over the next five years.
Craig Glasper, former Chief Executive at King Street has taken up a new role of Executive Director of New Business and Managing Director of King Street with responsibility for seeking opportunities for growth both in Cambridgeshire and Aldwyck’s wider area of operation.
Ian McDermott, Group Chief Executive at Aldwyck Housing Group said “I am delighted that we have successfully completed our merger with King Street. Shared values and a complementary footprint and development pipeline made them an excellent fit for the Group. We are keen to capitalise on the great reputation that King Street has established in Cambridge and provide more, much needed new homes in the area.”
Sara Garnham, former Chair of King Street Housing Society and now an Aldwyck board member said “We know all too well that Cambridgeshire, like much of the UK, has a chronic shortage of affordable quality homes. Through our merger we can play our part in addressing the housing crisis and continue to provide great service to our existing customers."