THE amalgamation of Liverpool Mutual Homes (LMH) and Torus this month has created one of the North West’s largest stock-holding housing groups.
Headed up by former LMH chief executive, Steve Coffey, the new, larger organisation — which retains the Torus name — boasts a 40,000-strong stock of homes.
These are situated throughout the organisation’s heartlands in Liverpool, St Helens and Warrington.
With a turnover of over £180 million and employing 1,500 staff, it is expected to become a “significant regional player” for a range of partners in the region.
“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,” said new group chief executive, Coffey.
“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.”
The group is aiming for the delivery of 5,300 new homes by 2024 and has pledged to allocate £5 million generated through commercial activities each year into “meaningful” projects that improve wellbeing, skills and quality of life.
A new corporate plan is being developed ahead of an official launch later this year, the organisation said.