Increase homes in management

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We build, sell and let new homes, ensuring they are designed and built to a high standard. This enables us to maximise sales and reduce the lifetime costs of those homes we manage and maintain.

As government grants fall, our development activities are providing a platform for growth. Our ambition is to deliver 1,500 homes a year for the next five years. Currently, there are 4,643 homes under construction and a further 8,737 in the pipeline.

Over the past year, we:

Delivered 1,285 new homes
Acquired 1,896 new plots
Started building 2,681 homes.

Now is the time for greater collaboration between housing associations and the public and private sectors to tackle the barriers to making land available for affordable homes. Last year we finalised a number of innovative partnerships that will deliver 3,350 homes over the next decade.

We have also joined forces with three other housing associations to create Evera Homes, helping the Cambridgeshire and Peterborough Combined Authority to deliver thousands of homes over the coming years.

Regenerating Harrow

We have two joint ventures with Barratt London in Harrow: College Road, which will create 318 new homes, including some for affordable rent and shared ownership, due to be complete in summer 2019; and the redevelopment of the Kodak factory, which will deliver 460 more. We are working with Harrow Council and Barratt to ensure Harrow residents get priority access to the homes and the College Road project is also employing 100 local people.
Kent Homebuilding Partnership

The Kent Homebuilding Partnership, with delivery partners such as the Chartway Group, aims to deliver hundreds of new homes across Kent. We are also looking to partner with other providers and developers and extend coverage of this innovative approach across all counties in the south east.
Partnering with Brighton and Hove City Council

Our £120m deal will pave the way for 1,000 genuinely affordable homes for local residents. Half the homes will be made available to local working people, including young people and families on living rents – a rent that reflects local wages, rather than market rents.
Regenerating Rochester Riverside

We received planning approval for our £400m regeneration scheme at Rochester Riverside at the end of 2017. The scheme, in partnership with Countryside Properties, will see 21ha of brownfield land next to the River Medway transformed over the next 12 years. Along with 1,200 homes, the project includes a hotel, shops, a primary school and public open space.
London Living Rent

County House is our London Living Rent scheme of 76 homes in Beckenham, helping tenants save for a deposit by offering below-market rents based on a third of average local wages. Rents are up to 30% cheaper than local market rents in Bromley, saving tenants between £300 and £400 a month.
Charlton Riverside

In May 2018, we purchased 4ha of brownfield land with the potential to provide 1,128 homes, 65% affordable. Construction is due to start in 2021 and be completed in 2027.
Stock rationalisation

In 2017-18 we had an average of 370 general needs homes per borough, across 67 boroughs. We want to have an average of 600 homes per borough within three years, so last year we began exiting 24 local authority areas, which will see the transfer of 1,502 homes.

We divested 491 properties in 2017-18 at a value of £41.3m, making a surplus of £18.2m, which will be invested in our post-Grenfell fire safety initiatives and in building much-needed new homes.