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Keepmoat Annual Report 2020

  • Text
  • Lease
  • Keepmoat
  • Strategic
  • Annual
  • Income
  • Assets
  • Limited
  • Homes
  • Statements
  • October
Keepmoat has released its Group financial results for the year ending 31 October 2020.

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STRATEGIC REPORT The strength of our Partnership Business Model Our partnership business model is what sets us apart from our competitors. It gives us the ability to secure land on a capital light basis by agreeing payment terms aligned to site development which combined with other aspects of our partnership operating model deliver strong capital returns and lower business risk. The value of our partnership approach has been clearly demonstrated this year, when the strength of the relationships with our partners, including both land owners and registered providers of affordable housing, has contributed to our continued success during the Coronavirus Pandemic by enabling us to manage our working capital effectively, giving us the confidence to deliver our growth plans through further periods of lockdown and to continue to build more of the new affordable homes the UK needs. We are the largest delivery partner of Homes England, delivering over 19,000 homes in partnership with them as a member of consecutive Delivery Partner Panels since 2009 and accessing over £387m in funding initiatives. We have used the Home Building and other Homes England Funds to accelerate the delivery of over 2,600 homes and Help to Buy to help c70% of our private customers to own their own home. We have built our reputation by aligning our approach with our partners’ objectives to deliver successful, large scale, mixed-tenure, developments. We have a proven track record of revitalising communities through the delivery of high-quality homes, in well-designed and well-connected neighbourhoods and at prices that customers can afford. Over the last 25 years we have successfully delivered new homes in some of the country’s most challenging housing markets, demonstrating our commitment to delivery even in the most demanding market conditions. Our partnership approach delivers many advantages including: • An ability to deliver large scale multi-phased development sites, providing a strong forward pipeline of land • The opportunity to work with partners who are motivated not only by financial returns, but also by non-financial outcomes (including - accelerated delivery, social value, sustainability and design quality); • The potential to access grant funding or investment support from Homes England and Local Authority partners; and • The opportunity to secure repeat business from existing partners and landowners, or to generate new business opportunities on the strength of our track record and reputation for delivery. Community and stakeholder engagement Our extensive experience and commitment to stakeholder engagement underpins our partnership approach and demonstrates the importance we place on working with communities and involving local people at all stages of neighbourhood projects. We recognise the value of recognising local needs and making sure all voices are heard to deliver real improvements to our developments. We actively support our partners in the development and implementation of stakeholder engagement strategies, working proactively to ensure that lines of communication are opened and maintained and that we take the right approach. We are one of the largest strategic partners of Homes England. 19,000 homes (2009 - 2020) c70% of private market customers used the Help to Buy scheme in 2020. ANNUAL REPORT & FINANCIAL STATEMENTS 2020 15