annual report

A2Dominion starts over 1,400 new homes in 2019/20

A2Dominion, one of the UK’s top developing housing associations, started over 1,400 new homes in the last financial year, including 391 new homes for affordable and social rent, as part of a healthy pipeline of more than 6,000 homes.
A2Dominion's Annual Report & Accounts 2020
A2Dominion's Annual Report & Accounts 2020
In addition, more than half of the Group’s overall development pipeline is allocated for affordable and social rent over the next five years and beyond, making a significant contribution towards the supply of new housing across London and southern England.

The 38,000-home Group also recorded a turnover of £320.4m and a net surplus of £19.5m. The organisation remains financially strong with an above peer average social housing margin of 34% and a maintained Fitch credit rating of A+.

A2Dominion continued to focus on improving and investing in its customer services, achieving an 87% satisfaction rating with its responsive repairs service and an award for new homes customer service, with 96% of customers saying they would recommend A2Dominion.

The Group delivered £10.6m of social value from community investment programmes, up from £3.5m the previous year, with customers benefitting from tailored support services, including financial and digital inclusion, health and wellbeing and employment and enterprise projects.

Darrell Mercer, A2Dominion Group’s Chief Executive, said: “I’m delighted that we have started onsite with over 1,400 homes this year, out of a healthy pipeline of 6,000 which will be developed over the next five years

“In these uncertain times, I am also pleased that our ongoing community investment programme has delivered such strong results and is having an incredibly positive impact on our residents.”

Other achievements in 2019/20 included:

  • Raising a total of £235m of new finance to enable the Group to continue its growth and take on new development opportunities. This includes:

    - £75m of revolving credit loan facilities Barclays Bank Plc;
    - Two bond issues off its EMTN platform, totalling £160m from two investors.
Read the A2Dominion Annual Report & Accounts 2020.