News

L&Q planned acquisition of THT will double social investment to £4m

  • Trafford Housing Trust aims to become part of L&Q Group
  • Significant investment in existing social homes planned
  • The new Group plans to invest £4 billion in NW homes over a decade
  • £4m of funding for social projects and jobs in NW communities 
  • A new NW Academy will be created to develop skills and job opportunities for residents and colleagues
  • A new NW Academy will be created to develop skills and job opportunities for residents and colleagues
  • Trafford Housing Trust (THT) and L&Q Group have announced ambitious plans to join forces and bring significant investment to build new homes, improve existing social homes and support social projects across the North West.

L&Q, one of the UK’s biggest housing associations, plans to invest £4 billion in the North West to build 20,000 new homes as part of a major expansion plan that will see THT become part of the L&Q Group.

Funding to support social projects, including THT’s Cleanstart programme, would double to £4 million a year through the creation of a new North West Foundation. A new THT skills Academy will be created to develop new skills for young people and the hard-to-employ, with training ranging from learning bricklaying to accountancy.

Tackling the housing crisis
By combining the growth ambitions of L&Q, with THT’s local knowledge and infrastructure, the joint Group forecasts it will build 20,000 new homes over the next 10 years to tackle the chronic need for affordable and social housing in the region. The two housing associations have had a successful joint venture partnership since 2016.

As part of this acquisition, THT CEO Matthew Gardiner, who has led the organisation since it began 15 years ago, will step down and be succeeded by Acting Chief Executive Larry Gold. Larry was the first employee of THT and has been Deputy Chief Executive for more than three years. Matthew will become Head of Ideation across the L&Q Group, leading innovation projects. Chairman, Edna Robinson, will join L&Q’s Group Board to help shape future strategy.

Acting Chief Executive, Larry Gold, said: “This is a unique creation that is built on true partnership and the strength of our vision, and the people who’ll deliver it. As part of L&Q, we’ll create significant social impact in the North West at scale and pace and strive to find innovative solutions to the dire national housing crisis. This will be achieved through an extensive programme of new development and regeneration projects, as well as improving homes for our existing customers.”

L&Q Group Chief Executive, David Montague, added: “THT shares L&Q’s social purpose, values and ambitions, and together, we see the growing need to tackle the housing crisis outside of the South West. We believe the time is right to look at forging a closer union with THT.
“L&Q has strong financial capacity and development expertise, while THT brings its own financial strength, alongside local knowledge, local relationships and an outstanding track record of delivery. By combining these ingredients, we can enable larger, more complex projects to be delivered in a part of a country that is desperate for more high quality, affordable homes.”

Customer consultation
Starting today, we will be asking customers for their views on the proposed acquisition during a six-week consultation period.

There are lots of ways that you can tell us your view, including on our website and at drop-in sessions that will be held in your neighbourhood at:
• Wednesday 10 April, 6pm8pm – Limelight – 1 St. Brides Way, Old Trafford, M16 9NW
• Monday 15 April, 1pm3pm – St. Matthew’s Community Hall, Chapel Lane, Stretford, M32 9AJ
• Wednesday 17 April, 10am12pm – Urmston Library, Golden Way, Urmston, M41 0NA
• Thursday 25 April, 6pm8pm – Sale West Community Centre, Newbury Ave, Sale, M33 4QJ
• Saturday 27 April, 1pm3pm – Broomwood Community Centre, Mainwood Rd, Timperley, Altrincham, WA15 7JF

Please note, this is not a customer vote on whether the acquisition should go ahead. However, we will use your views to help us decide whether to proceed with the acquisition.

The consultation will close on May 14, 2019. We will tell you the outcome of the consultation and our Board’s decision on the proposed acquisition.
If you have any further questions, please get in touch with our Customer Contact Centre by emailing customer@mytht.co.uk or by calling 0300 777 7777.