Being efficient so we can invest in new and existing homes
Our ambition is the same as it was in 1890 – to build homes
for people who need them most. We work with partners in the
public and private sector to deliver this goal.
We continue to invest in our existing homes, as well as
building new ones. We aim to deliver 2,000 new homes by
31 March 2018 and position ourselves to build at least 1,000
homes per year from 2018. This means building more homes
of different tenures and creating additional future capacity
through a greater proportion of market sales.
We continue to look at opportunities to improve our existing
estates, by building new homes for current customers as well
as additional homes for affordable and market sale. We are
investing in our existing homes to make them places that our
customers love living in.
In 2016/17 we:
- Built 574 new homes – 78% were for social or affordable rent,
10% for shared ownership and 12% for outright sale.
- Continued the regeneration of our Loughborough Park Estate in
South London. We also completed a major refurbishment of
Matthias Court in Salford, now renamed Delaney Heights, creating
119 affordable homes. Its adjacent site, Adelphi Court, is now
being refurbished by Guinness Property.
- Began our Quayside development in Totnes, Devon. Designed
for older people, it will provide a mixture of affordable rented
homes and homes for sale. It will make use of the latest
technology to deliver telecare services to our customers.
- Continued to work with customers on the Northwold Estate
in Hackney and the Mansell Street Estate in the City of London,
shaping proposals at both estates to provide new,
- Invested more than £73 million in maintaining and improving our
- Generated surpluses of £24.7 million from shared ownership and
outright sales to reinvest.
- Won the First Time Buyer Magazine Readers’ Award for
Most Innovative Redevelopment of an Existing Property for our
development at One Manor Road in Brighton.