BOLTON at Home is set to join forces with a north west housing provider in a deal that could see it build hundreds of new homes in the borough over the next five years.

The landlord has had an offer to join it in a ‘group-structure’ accepted by Salford-based Arcon Housing Group.

Both parties are now working on finalising the agreement which would see Arcon become a subsidiary of Bolton at Home.

It would give a significant boost to both organisations’ plans to increase housing supply both across Bolton and the wider north west region.

Jon Lord, chief executive of Bolton at Home, said: “The benefit for Bolton tenants is that this will make Bolton at Home financially stronger while maintaining the current level and range of services. This means we will be in an even better position to provide new homes and employment opportunities to the Bolton community.”

The move would would enable the landlord to deliver more than 1300 homes by 2023. And Mr Lord says Bolton would be the main beneficiary of the arrangement.

He said: “We would expect the majority to be in Bolton, we can’t give a definite figures as it requires land acquisition.

“But we are doing this to enhance our ability to develop in Bolton, so the focus of Bolton at Home will still very much be on Bolton.”

He added: “This deal gives us an arm to the organisation that allows us to broaden out across the region and puts more strength in our business plan.

“It will mean we can increase borrowing capacity over time and build even more homes in future.”

Mr Lord said that adding Arcon to its subsidiaries would give Bolton at Home access to the kind of resources that would make it possible to tackle sites that have previously been too large for it to consider.

The plans were also hailed by Cllr Martin Donaghy, Bolton Council’s executive cabinet member for housing and planning.

He said: “It’s a good news story for Arcon and for Bolton at Home. In the future, they can borrow more against their book value, which means more investment in Bolton at Home properties in the borough. I welcome this news very much.”