We have a clear plan to achieve our ambition of doubling our output of homes, underpinned by a philosophy of operating responsibly and efficiently.
There is a chronic shortage of new homes in London. Our goal is to grow Telford Homes over the next five years to help address this shortage. This will involve doubling our output of homes in one of the world’s greatest cities.
Increasing our average site size to achieve economies of scale
In the last few years we have been able to achieve enhanced returns by deploying our resources on larger development sites. We have increased our minimum site size threshold to focus our land buying accordingly.
Broadening our geographic focus within London to access more opportunities
We are improving our access to land opportunities and increasing the potential for new relationships by enlarging our target area of operation within London. We have the knowledge and expertise to successfully develop in new boroughs.
Focusing on affordable non-prime locations for open market sale homes
We continue to manage the development pipeline to ensure our average price point remains affordable to potential owner-occupiers, investors and their tenants. The average price of the open market homes in our current pipeline is £527,000.
Positioning Telford Homes as a key build to rent developer and partner across London
Selling homes to build to rent investors has been a significant change in our strategy since the start of 2016. Build to rent delivers enhanced capital returns and can accelerate our growth whilst also reducing our reliance on debt.
Maintaining a strong forward sold position to limit risk
We have always de-risked significant developments by securing forward sales early in the development process. This strategy has positioned the business well in economic downturns and increased our access to finance.
Driving the evolution of our sustainability strategy
We have developed our sustainability strategy ‘Building a Living Legacy’ and recruited a Head of Sustainability to drive implementation across the business. The core priorities and targets are described here.