Sovereign residents invited to have their say on merger proposals
Sovereign customers are being invited to share their views over proposals to merge with Network Homes and create a single organisation – Sovereign Network Group.
The consultation is now live and will give customers the opportunity to have their say and help shape future services. Responses should be sent before Tuesday 11 July 2023.
Commenting on the launch of the consultation, Sovereign Chief Executive Mark Washer said: "Consulting our customers is an essential part of our proposed merger. Sovereign exists to make sure they have a great home, so this will help us understand people’s concerns, learn, and bring together the best from each organisation.
“We want to be in a position where we’ll be able to deliver even more for our customers. Merging with Network Homes will put us on this path and mean we leave an even larger legacy for the people living in our communities.
“This is a fantastic opportunity for customers to have their say and help shape the future direction of the proposed Sovereign Network Group. I’d encourage all customers to read the information and provide feedback before the consultation ends."
Sovereign is actively contacting customers via email, SMS and post with information about the merger and encouraging feedback on its proposals. The information about the merger sets out how the new group will function, what will change, and crucially what will remain the same.
Feedback from the consultation will support the new group to develop sector-leading services and leave a positive legacy for its customers.
Sovereign is also holding pop-up events to give residents the chance to speak to members of its’ team in person about these proposals. Customers should check Sovereign’s website regularly for all the latest updates and details of upcoming events. Find out more about the merger, the consultation and pop-up events.
Proposals for the two associations to merge were announced earlier this year, with the merger scheduled to take effect in October 2023.
The new group has ambitious plans to deliver 25,000 new homes over the next ten years – 4,000 more than in current plans. The new group has also set out plans to introduce a new community foundation which will invest £100million across its communities over the next ten years.
Together Sovereign and Network Homes will be in a stronger position to weather economic headwinds, allowing them to continue investing in building safety, technology, and decarbonisation to improve the customer experience.
Under the proposals, the new organisation will initially take the form of a group structure with Sovereign being the parent (renamed Sovereign Network Group) and Network Homes the subsidiary (renamed Sovereign Network Homes), with a view to full amalgamation happening in April 2025.
While there won’t be a formal resident vote, and there is no legal or regulatory requirement to consult, the Boards of Sovereign and Network Homes will take residents’ feedback into account when they make their final decision on merger.
Sovereign will share a summary of the feedback received and next steps in September.