Accounts also confirm increase in turnover
Sanctuary is still exploring the sale of its student accommodation assets despite reports it had agreed a deal to sell them last summer.
The 125,000-home provider, in its audited accounts for the year to 31 March 2026, said: “We continued to take a strategic, long-term view of our asset portfolio to ensure it supports our core social purpose. As part of this, we are actively pursuing the sale of some of our student portfolio. “
Reports suggested Sanctuary had agreed a £400m deal with global investor GSA to sell the assets but the accounts said the group is still exploring the potential sale of the majority of its student accommodation assets. Sanctuary has not confirmed or denied the GSA deal.
The group manages more than 10,000 student homes. It said: “We continued to take a strategic, long-term view of our asset portfolio to ensure it supports our core social purpose. As part of this, we are actively pursuing the sale of some of our student portfolio.”
Sanctuary also said discussions are currently ongoing about selling more of its shared ownership portfolio. It is seeking to sell its interest in 2,000 properties to “unlock and recycle capital for new investment in our existing homes and services across the organisation”.
The audited accounts also confirmed that Sanctuary has moved back into surplus after property revaluations and a development write-down meant it recorded a deficit the previous year. The provider reported an overall surplus of £61.3m, compared to a deficit of £29.7m in 2024/25.
Its overall turnover increased by 3% from £1.18bn to £1.22bn. The growth included an £11m increase in social housing rental income, while care income increased by £21.4m and student housing by £9.3m.
The group completed 790 homes in the year, down slightly on the 838 completed the previous year. It said it has 2,469 homes currently on site or in development. The group invested £126.5m in improving existing stock in the year.
Sanctuary is the largest housing association in the UK by turnover, according to Housing Today’s Largest 50 Housing Associations list last year.
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