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Building more homes

Welcome | Our financial results | Delivering quality services | Being efficient

 

This year, our development strategy focused on acquiring land and creating new relationships with passionate individuals and organisations who share our vision, so we can meet our ambitions of delivering a rolling five year average of 1,500 homes per year from 2017/18.

Over the past year we:

  • Delivered 465 new homes
  • Acquired 2,681 new plots
  • Started building 1,949 homes
  • Agreed new joint ventures.
  • Building homes

    We built 465 homes in 2016/17; sold 95 outright sale homes and 298 shared ownership homes, generating surpluses of £12.3m and £10.6m respectively.

    We used Project Team Working, our cross-department approach that pools expertise, to optimise cost and value and deliver homes that will be efficient to manage and maintain. 

    We continued to employ construction management on several schemes, with Hyde more actively overseeing specific developments and saving money in the process. We also explored Modern Methods of Construction, using off-site manufacture of building components, to provide better value for money.

  • Joint ventures

    We sought opportunities to work in partnership through joint ventures, as we believe this is an efficient way of creating affordable homes and, for local authorities in particular, to maximise the value of their development land. In 2016-17 we finalised a number of joint ventures that will deliver:

    • 1,550 homes on the former Kodak factory site in Harrow, with Barratt London
    • 1,200 homes in Rochester, Kent with Countryside, Medway Council and the HCA
    • 1,000 affordable homes in Brighton and Hove, with Brighton and Hove City Council.
  • Stock rationalisation

    We carried out three major stock rationalisation projects during 2016/17, with more than 2,000 units being traded. The £24.1m profit from stock swaps, along with £44.1m sales revenue, will help pay for more homes and better resident services.

  • Design and quality

    Hyde’s design and quality panel helped us save £9m during 2016/17, enough to fund at least 60 new homes. The panel assesses all new developments to minimise costs and maximise value.

  • MORE

    We started construction of 86 homes under our MORE (Managing Our Resources Effectively) programme, which sees us make better use of our existing homes and estates through infill, remodelling and regeneration. A major MORE project, the regeneration of the Brookhill Estate in Woolwich, began in earnest in last year; we are consulting with residents with the aim of submitting a planning application in summer 2017.

 

 

 

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