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Housing Association News
Hillcrest and Northern Housing Company Merger
Hillcrest HA (HHA) and Northern Housing Company (NHC) are happy to announce that the proposed “merger” was legally concluded on 1st September 2010 and NHC have now become a subsidiary of HHA in the evolving Hillcrest Group of Companies.
NHC bring their own portfolio of 400 properties in Dundee and Perth into the Group along with their long experience of mid market renting. Both parties hope to rapidly expand the portfolio of mid market renting through a variety of methods; new build, leasing unsold properties from private developers and transferring the management of some of HHA’s older stock.
John Mulloy, Hillcrest Group Chief Executive, said “We aim, as a Group, to offer a full price range of rented housing from social to open market rents. NHC with their track record of mid market renting built up over almost a century are an ideal partner and vehicle for what we consider should be a promising growth niche in the future.”
Stuart Shephard, Managing Director at Northern Housing, said “This is an excellent prospect for NHC. There are a number of quick opportunities around that should provide early growth benefits for NHC as a result of joining the Hillcrest Group.”