Asset disposals boost Abri Group’s surplus as it explores merger

Abri Group generated £41m of surpluses through its asset disposal programme in 2025/26.

The 50,000-home provider, in its financial statement for 2025/26, reported surplus on fixed asset disposals of £41m, up from £29.4m the previous year.

The increase was driven by nearly £10m of extra surpluses this year from the disposal of “existing units” as opposed to shared ownership, staircasing or Right to Acquire sales.

Abri disposed of 300 properties in the year, including 219 general needs homes, as part of its asset optimisation programme under which it seeks to generate surpluses for reinvestment while removing poorer performing assets from its portfolio.

Its operating surplus “notably improved” from £85m to £123m “supported by the increase in property sales.” It also received £1.5m in extra surpluses from sales under the Right to Acquire, while surplus from shared ownership first tranche receipts was £6m, similar to last year’s figure of £5.5m.

As Abri previously announced in June, its overall turnover rose 19%, from £376.6m to £447.4m. Its net rental income rose from £301.7m to £353.9m.

The group built 1,123 homes in 2025/26. This is up from the 788 it completed the previous year and is in excess of its 1,000 home target for the year.

Abri is currently in talks about merging with 14,000-home Curo which is based in Bath.

In a note to investors titled ‘Project Austen’ last month, Abri said the two organisations share ambition, culture and strategy and a commitment to local communities.

It said the merger would create “density and efficiency” and reduce exposure to market sales. It said the organisations post-merger would accelerate a Homes and Place standard and increase delivery while improving customer outcomes through better repairs performance, along with providing faster access to technology.

Under the plan Curo would join Abri by March 2027 as a subsidiary before folding fully into the organisation by March 2029.

Abri in April announced an ambition to build 20,000 homes over the next decade and become a “top five” housing association provider. The figure is double the 10,000 target it had previously set for the 10 years to 2030. The group said it intends to use a variety of funding models including equity investment to achieve its goal.