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Iceni Homes is looking ahead to the future after becoming a wholly-owned subsidiary of growing housing association Eastlight Community Homes.
The transfer will enable Eastlight to better meet residents’ changing needs and the demand for affordable housing in the East of England.
Alan Lewin, Chair of Iceni Homes, said: ‘Over the past two years Iceni has seen a fundamental change in its shareholding base along with greater volatility in the construction sector.
‘In response to these challenges, Iceni embarked on a joint strategic review with our shareholders Eastlight and Hundred Houses Society.
‘This has resulted in the agreement that Iceni should become a wholly- owned subsidiary of Eastlight. This decision will give Iceni a strong platform on which to grow and provide an enhanced range of development services to our current and future partners. ’
Emma Palmer, Chief Executive of Eastlight Community Homes, said: ‘ Iceni has been a highly -valued and successful development delivery company for its partners for over seventeen years. It will continue to play an important role as part of Eastlight.
‘ We are pleased to welcome the Iceni team into Eastlight’s inhouse development function, creating a substantial service with a wide range of skills and experience to support our plan to build 3,800 new affordable homes over five years.’
The transfer of Iceni into Eastlight was completed on August 1 2021.
Bury St Edmunds-based Iceni formed in 2004, to provide a unique partnership which enabled smaller housing associations to deliver affordable homes. Iceni also worked closely with a range of other housing stakeholders and was a development partner with Homes England.
Over the years Iceni has delivered 4,000 homes and contributed £2.5m in gift aid for reinvestment. In the last year alone Iceni-led schemes enabled 200 homes to be approved for development. On top of this work for its shareholders it has also delivered hundreds of homes with other partners.
Hundred Houses exited as a shareholder in July but will continue to receive a full development and sales service from Iceni under a new service level agreement. Iceni also continues to provide services to Babergh and Mid Suffolk Councils.
Iceni’s managing director Philip Murton, who played a key role in the organisation’s success, has decided to leave after supporting the successful transition into Eastlight.
Philip said “It has been a privilege to lead Iceni and to have worked with a fantastic group of people. I look forward to seeing Iceni enter a new phase and the exciting opportunities that come with it. Following five years at the helm, I think these changes provide the right time for me to take the next steps in my own career.’