PLACE RESI MARCH 2017
Paul Westhead –Head of New Business - Development
Introducing THT
A Force for Good
Profit for Purpose
Providing more excellent homes and services
Eradicating poverty
Creating maximum social impact
We are a force for good
driven by social justice
inspiring people and neighbourhoods
to be the best they can be
10 years and counting…
Stock Transfer
2005
100% Decent Homes by
2011
Power of Ten2015
£££54.4m
turnover
c.£47m
Added value from core activities
and…
9,600 homes£3.5m2005
First home built 2009
8,888
homes£234.8m2015/16
Investors in People
GOLD
83%
customer satisfaction
V1/G1
HCA rating
To strive for a society transformed, free from poverty, inequality and injustice
Structural:The inherent social impact of THT’s main activities: Social housing, sheltered accommodation and developing properties.
Complementary:The impact generated by the businesses consciously shaping their activity to create social impact which would not otherwise have been generated
Additional:The added extra, the difference between what a social landlord might reasonably achieve through its ‘normal’ work and what THT seeks to achieve in its Vision and Purpose
- £792k invested in 166 community projects, enabling 21,664 people to participate
- With consistent focus on VFM and investing in growth, every £1 we spent, benefits the community by over £4
- This means the total value of our social return in 2015-16 was £46.8m
Developing award-winning new homes
Delivered – (Apr 16) 381 New HomesAffordable - 247Shared Ownership - 109 Open Market Sale – 25
On-Site: 313 New Homes
Planned/In Progress: 1344 New Homes
Established THT Developments Ltd (THTD) in 2014 – profit for purpose
Launch of successful Laurus Homes brand – selling off-plan OMS housing via an in house sales team
Delivering the full spectrum of tenure including a diverse affordable programme and extra care
Mixed use developments - health, community and retail and leisure
Joint Venture with Wates Residential First RP to access GM Housing Investment Fund (HIF) Old Trafford Land Pooling Agreement and Planning
Performance Agreement with Trafford Council THT champions social value via a successful approach
to co-production and added value Strong partnership with HCA
10 years and counting…
Market Sale Developmentof the Year….
Laurus Homes Arcon Place
Limelight – Old Trafford
Comprehensive redevelopment of Shrewsbury St Community centre into ;
81 Extra Care facility ; GP led heath centre, library, community centre, café and churchWorking in partnership with; TMBC ; Trafford CCG ; HCA ; St Brides and the Community
Joint Venture Activity
First JV Development with Wates Residential at Timperley – 33 Houses and 29 Apartments currently under construction.
GM Housing Investment Fund
First RP to have HIF funding approved ; Funding utilised to bring forward a 41 home scheme in Altrincham. Scheme complete & HIF repaid within 15 months.
The Wider North West Opportunity Area
Trafford
Blue – current area of primary focusBeige – wider area of search
Merseyside
Cheshire
Lancashire
GM
THT Future…
… a force for good
Other?
Alone?
Merger and Acquisition?
Partnership?
Profit for purpose
Provision of more excellent homes and services
Eradicating poverty
Creating maximum social impact
How do we deliver?
Complexity Scale Pace Reach Independence
? ? ? ? ?
Alone?
Merger and Acquisition?
Partnership?
Other?
The THT and L&Q Development Partnership…
…it’s not what you think it is…..
L&Q Development Plans
• 100k Homes over 10 Years • £25Bn Development
Programme • 50/50 tenure split between
commercial and social
Quebec Way, Southwark, 368 homes
L&Q’s history -
On 7 October 1963, 32 people each bought a £2 share in the association. 53 years on, that £64 has become a £17 billion social business.
THT and L&Q Developments LLP…
"We welcome this new partnership as another
important player in the team …working to deliver the homes
that communities across Greater Manchester need…”
Cllr Richard Farnell, Lead Member for Planning and Housing, Greater
Manchester Combined Authority (GMCA)
“…the most exciting development in the way
associations generate new supply”
David Orr, CEO,National Housing Federation
… is a game-changing partnership for housing
THT and L&Q Developments LLP…
2000 new homes in first 4 years – c. 500/year
1000 (50%) OMS + 1000 (50%) affordable
££ £160m initial investment - £80 million each
50:50 partnership
£ Profit for purpose
Asset holding - creating a legacy
Opportunity to unlock complex sites across GM and North West
The deal…
THT bring:
Local knowledge
Funding
Delivery record
Networks
Local delivery partners
Experienced Development Team
Established Laurus Homes brand
‘Heavy lifting’ THT development at Arcon Place, Altrincham
The deal…
L&Q bring:
Funding
Delivery record
Heritage and influence
Large-scale experience
Partnership experience
Processes
L&Q development at Barking Riverside London
The deal…
Together…
Shared values
Like-minded
Shared ambitions
Shared risks and rewards
Shared learning
Big opportunities
Increased affordable homes supply
Large scale regeneration (inc. infrastructure)
Unlock complex/stalled sites
New products and services
Increased influence
Significant social impact
FANTASTIC DEVELOPMENT
Not just THT and L&Q …
You
… we want to work closely with…
HCA
Developers
Contractors LAsGMCA
LandownersRPs
PropCosDCLG
Watch this space…