Pictured: Peter McCormack, chief executive of Derwent
Living
Derwent Living is approaching the end of 2011 on a high as it
reveals its ambitious plans for growth in its 2012 business
plan.
The Derby-based housing provider is defying the downturn and
despite difficult economic times, the organisation has prepared a
robust new business plan which will see the company continue to
grow well in to 2014, including the development of 650 much needed
affordable homes.
To create the business plan, Derwent Living consulted with its
residents and colleagues, as well as with stakeholders across its
operating areas. The feedback gained through this consultation has
been used in conjunction with information gathered by the
organisation over the last three years, to develop a plan which
reflects the company's priorities and those of its customers.
Key themes in the company's plan include its commitment to
improving its repairs and other key services; improving levels of
overall customer satisfaction to 90%; improving its existing
housing stock through the Decent Homes Plus Standard; building 650
new homes (over 80% of which will be developed with private
funding), and working with local authorities and agencies to
maximise opportunities for development, community building and
support job creation.
Peter McCormack, chief executive of Derwent Living says: "At a
time when people are continuing to make cuts in the property sector
and when major reductions are being made in public funding, most
organisations have been forced to re-evaluate and downscale their
plans for the future. I am pleased to say that our new plan clearly
shows our intention to grow over the next two years."
Although faced with challenging times over the last few years,
the positive nature of the company's business plan is as a result
of strong financial management and the company's innovative
approach to developing its affordable housing business alongside
its commercial ventures. Last year, Derwent Living secured a
landmark £55million deal which saw 1135 properties
transferred to its housing stock from another housing
association.
The transfer brought Derwent Living's stock total to around
15,000 properties - making it one of the largest housing
associations in the Midlands. The deal was a UK first with pension
funding made available by Aviva Investors.
The deal, says Peter, was an innovative funding solution. "It
was down to the imagination and persistence of the Derwent Living
executive team and its board, and is a reflection of our commitment
to finding new ways to raise finance. Our new plan goes one step
further in doing this, as we intend to use surplus generated by our
other commercial ventures to improve our existing housing stock and
fund the building of much needed homes."
One of Derwent Living's most successful ventures to date has
been its facilities management subsidiary Derwent FM, which has
been steadily growing over the last year.
Peter continues: "Derwent FM is another success story for
Derwent Living and it has won contracts from central government,
health authorities and the education sector in the last 12 months,
with no signs of slowing down. This, combined with our other
ventures puts us in a strong position.
"As an organisation our main priority is to our customers, both
existing and new. As well as continuing to provide much needed
housing when there is limited funding available, we also recognise
that we have to look at ways to improve the services we already
carry out and the new plan highlights the areas we need to address.
Through customer led reviews and a new performance management
strategy, we pride ourselves on creating a culture where customers'
priorities are the basis of performance."