Living Space has concluded its third year of physical trading, hitting a turnover in excess of £30m.
The Solihull-based affordable housing specialist launched to the market in 2019 and is currently constructing seven residential developments across middle England. 13 additional sites are either in the planning system or being promoted. The combined construction value of its development portfolio is in excess of £131million, which equates to 890 affordable houses, apartments and bungalows.
The company’s land acquisition strategy, active management of its whole supply chain, and repeat business from leading Registered Providers (RPs), have all contributed to the successful year.
Paul Breen, Managing Director of Living Space said: “Our turnover has increased by 50 per cent on the previous year, which is a proud achievement, given the number of unforeseen planning delays we are currently encountering across our whole area of operation. While waiting lists for quality, energy-efficient affordable homes are at unprecedented levels, we are continually tackling bureaucratic issues that delay delivery of much-needed new homes.
“At each of the seven energy-efficient schemes currently under construction, we are utilising the skills of local supply chains to maximise the benefit to the regional economy. We are now embarking on our fourth year of physical trading, and with 13 sites in our immediate pipeline, we are on track to increase turnover to £50m for the 2022/3 year.”
The vast majority of the homes Living Space builds are delivered to RPs for affordable rent and shared ownership. Living Space sources the land, achieves Full Detailed Planning consent and builds the homes for the RP, enabling them to focus on the funding and management of high-quality homes for their residents.
Living Space’s clients include Stonewater, The Wrekin Housing Group, Hightown Housing Association, Paradigm, and Platform Housing Group.