As one of the leading housing associations in London and the south-east, we have an active and ambitious development programme.
Our experience, financial strength and security have allowed us to develop numerous residential projects, many of which have been through partnerships. This has enabled us to build more than 2,000 homes a year across London and the south-east. We now have housing stock in all 32 London boroughs and within 84 local authorities nationwide.
We're on the newly tendered London Development Framework Panel with the Greater London Authority and also the Transport for London (TfL) Property Partnership Framework, both giving us access to considerable development opportunities. We have excellent and current working relationships with local authorities across London, and for many we're on their preferred partner frameworks.
Types of partnerships
We look at all opportunities to continue our growth, and are securing increasingly more new build projects through joint ventures and partnerships. We're keen to work with others that share our ambitions.
Joint ventures (JV)
We work with a diverse range of partners to bid for new opportunities together in which we will share the costs. On winning a bid we would establish a 50/50 JV and develop out the scheme. The development is jointly funded with both parties sharing the risk and profit. We are able to forward fund the affordable housing element of the scheme that strips more risk out of the JV. These partnerships are mutually rewarding as we benefit from respective skills and expertise, and we're able to work on opportunities that often would not be possible to do individually.
The London planning system requires that affordable housing is provided on most new residential developments through what is known as a Section 106 requirement. We work successfully with other house builders and developers to help them deliver and manage their affordable housing obligations. We're extremely experienced in integrating tenures and helping to build a sense of community on site.
We rely on a strong and diverse development framework to meet our build target each year.
Our framework includes building contractors, architects, surveyors, engineers and planning consultants, among other disciplines. Organisations on our framework are required to share our ambitions and uphold our core focus on quality, cost and social values. Our past frameworks have been highly regarded, and used by other contracting authorities within London.