In April, London & Quadrant Housing Trust (L&Q), East Thames Group (ETG) and The Hyde Group (aka Hyde Housing Group (HHG) announced they were exploring a possible merger.
The new company would have been worth approximately £30bn and would have produced 100,000 new homes across London and the South East over the next 10 years.
However, L&Q and HHG have since admitted there are practical issues that could not be overcome and that the merger would not be in the best interests of their stakeholders.
Despite this, L&Q and ETG have decided to continue working towards a two-way merger.
Both housing associations remain committed to the 100,000-home target, while also hoping to create a new training academy, community foundation and a care and support subsidiary.
L&Q owns or manages over 70,000 homes in London and the South East.
Meanwhile, Stratford-based ETG is responsible for just under 15,000 in east London and Essex, including 1,400 homes in the Olympic Village.
Further updates on the merger will be issued over the coming months.
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