A new 40,000-home landlord and forward-looking social organisation for the North West was created on 1st January, following the successful amalgamation of Liverpool Mutual Homes (LMH) and Torus.
The larger group, which retains the Torus name, will be one of the region’s largest stock holding housing groups and a significant regional player for a range of North West partners, employing 1,500 staff and with a turnover in excess of £180 million.
Coming together as new Torus unlocks the significant asset strength of two strong, high-performing social organisations and means the group can make an even bigger difference to communities across its heartland areas of Liverpool, St Helens and Warrington – communities in urgent need of more affordable homes and positive long-term social initiatives.
That’s why Torus’ ambitious plans for 2019 and beyond prioritise the delivery of even wider housing solutions and choices for people needing homes, as well as wider social and economic regeneration across communities.
The group is already targeting 5,300 new homes by 2024 and has pledged to allocate £5m generated through commercial activities each year into meaningful projects that improve wellbeing, skills and quality of life.
Steve Coffey, Chief Executive for the new group and former LMH CEO, said, “The vision for new Torus is driven by a shared commitment to the communities we serve and by a determination to build positive futures across our heartland areas.
“This is more than a joining together of landlords. As a larger, more diverse organisation – simultaneously landlord, property developer, commercial contractor and social entrepreneur – we’ll deliver our vision on a larger scale.”
A new corporate plan is being developed ahead of an official launch later this year and both stakeholders and customers will have a chance to have their say on the group’s priorities.