First Wessex and Sentinel complete merger

The new Hampshire-based organisation, called Vivid, launched today (24 April 2017) with plans to build at least 1,200 new homes a year across all tenures – around double the number of units each of the individual housing associations would have been able to do alone.

The group has 1,000 staff and works across 20 local authorities. It has its own construction arm called Vivid Build and a repairs team.

Former First Wessex chief executive Peter Walters will step down as CEO in six months to pursue other career opportunities, after which Mark Perry, who was previously Sentinel’s chief executive, will formally take over.

Mr Walters, chief executive at Vivid said: ‘We’re very excited by the positive impact that Vivid will make on our ability to build more homes for local people, whilst continuing to deliver great services to customers. Our ambition is to maximise opportunities to make more housing available and affordable to everyone.’

Mr Perry, chief executive designate said it ‘brings together the expertise, financial strength and housebuilding potential of two well established, innovative and successful organisations’.

He said: ‘We’ve created a high performing and influential business, better placed to respond to the ever-changing environment in which we work. Our plans to build 1,200 new homes a year include a mix of social and affordable rent, shared ownership and private sale.’

The new group chair is John Barker, formerly of Sentinel, who will step down after a transitional period to be replaced by Mike Kirk, former First Wessex chair.

• Read more in May’s Social Housing magazine.
• Hear more about merger at the Social Housing Finance Conference on 11 May. Click here for details.