We have a clear plan to achieve our ambition of significantly increasing our output of homes.
There is a chronic shortage of new homes in London. Our goal is to grow Telford Homes over the next few years to help address this shortage. This will involve significantly increasing our output of homes in one of the world’s greatest cities.
GROWING THE OPERATIONAL CAPACITY OF THE BUSINESS
We have put in place a new operational structure which is enabling the Group to expand efficiently. Our strategic focus on build to rent provides the opportunity for significant growth in the future.
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 to all non-prime locations across London. We have the knowledge and expertise to successfully develop in new boroughs.
FOCUSING ON AFFORDABLE 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 £539,000.
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, reduces our reliance on debt and will increase output.
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
The Group’s marked improvement in the 2017 NextGeneration sustainable housing benchmark report has been driven by our ‘Building a Living Legacy’ sustainability strategy, which we launched in 2016.