Housing provider Sanctuary has acquired troubled housing association Swan.
by Rory Butler / February 10, 2023
Swan, in Essex, is now a subsidiary of Sanctuary Group, following a rescue deal this week.
“Sanctuary’s strong financial position…brings stability to Swan and safeguards Swan’s services to its residents and communities,” said Sanctuary.
Swan, which manages 11,600 homes, will remain a standalone operation while future integration plans are discussed.
“As one of the largest providers of social housing in the country, Sanctuary is financially strong, well-run and has the experienced team in place to help Swan manage its challenges,” said Craig Moule, Sanctuary Group CEO.
Sanctuary’s former development director, Dave Soothill, will assume responsibility for Swan as its managing director.
It is understood Susan Hickey, interim Swan chief executive, will leave the organisation.
With Swan a subsidiary, Sanctuary now manages 116,000 homes across England and Scotland.