One Housing Group has reported a £25.5m pre-tax deficit for the year to March after being hit by a series of exceptional costs including fire safety works to its existing properties.

The London-based G15 housing association, which owns and manages just under 20,000 homes, said its results were affected by a £17.2m charge for fire safety works, plus a £13m hit from the revaluation of a development site, on which planning permission has been refused, forcing a rethink.

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