Merger of 2 providers to scale up affordable community housing in NSW
Two Australian community housing providers announced that they are joining forces to scale up and do more to provide more social and affordable housing in the New South Wales.
In a media release, Link Housing and Wentworth Community Housing announced that they have signed a merger agreement with the intention to formally become Link Wentworth Housing Ltd on 31 March 2021.
The merger of these community housing providers means Link Wentworth will be one of the largest community housing providers in New South Wales, able to leverage its scale to enable greater provision of social and affordable housing to those most in need.
Having a greater capacity with increased scale of operations, broader coverage of Sydney and surrounds, and more than 70 years of combined experience, the merger is an exciting development.
Following the merger, Link Wentworth will be one of the largest community housing providers in Australia managing over 6,300 homes with around 10,000 residents and 200 staff, with projected combined revenue of $85M and combined net assets in excess of $200M.
The Link Wentworth Board will be Chaired by respected industry leader, Mike Allen, an independent housing advisor who believes the merger is an exciting next step for Link Housing and Wentworth Community Housing. Allen was also former CEO of Housing NSW
“Together, the two organisations will bring their history, experience, talent and capabilities to deliver more and better services. Having had a career in housing, I am encouraged by the shared mission and vision for the future of these high quality organisations – and I am very much looking forward to supporting the board and management as the new Chair of Link Wentworth from Day 1 of the new organisation, 31 March 2021,” he said.
Meanwhile, Andrew McAnulty, current CEO of Link Housing was appointed CEO-elect for Link Wentworth and is looking forward to taking on the role of CEO.
“I am humbled by the opportunity to be the CEO of Link Wentworth. Bringing together two great organisations provides us with the potential to do significantly more for those most in need within our community. We will be an organisation more able to advocate for people in need and to then deliver innovative housing solutions in partnership with all three tiers of Government and the private sector. This is a tremendous opportunity for us to make a difference,” said McAnulty.
Through sustainable and ongoing growth, Link Wentworth will proactively advocate for the federal and state governments to invest in more social and affordable housing. With COVID-19 exacerbating the housing crisis, the new combined entity will capitalise on opportunities to build more housing for those most in-need.
“This will be achieved by partnering with government, property developers and financiers to fund more social and affordable housing, including leveraging COVID-19 stimulus programs, to help ensure more people do not fall into poverty and homelessness,” the company said in a statement.