Bedfordshire provider boosts stock with transfer of 1,200 homes from Clarion
BPHA has increased its annual completions by 90%.
The Bedfordshire-based housing association, in its financial statements for the year to 31 March, reported completing 444 homes, up from 233 the previous year.
The 20,000-home group’s turnover rose from £152.1m to £159.4m year-on-year, boosted by nearly £6m in extra income from its core social housing operations.
The group’s operating surplus rose slightly from £54.9m to £55.8m, as did its overall pre-tax surplus (£20.1m to £21.7m)
BPHA said the increase in operating surplus was driven by a £1.9m increase in surplus from development and sales to £4.2m, offset by a £1.7m reduction in core operating surplus due to investment in improving existing stock and changes in the value of investment properties.
BPHA earlier this year agreed a stock transfer of 1,200 homes from Clarion, including 850 in Luton and the remainder in Bedford and Central Bedfordshire.
Jeff Halliwell, chair of BPHA, said: “Our development programme provided 444 much-needed new homes across our region, and we were delighted to exchange contracts to welcome more than 1,200 homes transferring from Clarion.
“These homes will strengthen our presence in Bedfordshire, particularly in Bedford and Luton, giving new customers access to dedicated bpha teams with strong local knowledge and established neighbourhood partnerships.”
Largest 50 Housing Associations accounts tracker
As we enter reporting season, Housing Today is tracking the financial statements of the largest housing associations in the UK.
See here for our reports so far:
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Clarion surplus up on stable turnover But social landlord says completions drop despite rise in investment
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