Arhag Annual Report 2021

OUR GROWTH The continually evolving socio-economic political environment that we are living through, has not deterred us from feeling both financially and strategically comfortable. ARHAG has the financial and operational capacity to grow, and we will continue to look for opportunities to concentrate our activities in our core areas of north and east London. The majority of ARHAG’s growth over its recent history has been through the successful acquisition of properties owned by larger registered social landlords and we will continue to assess these opportunities as and when they arise. We are committed to reviewing our 2017-22 business plan to refine our position on further developments. We have been looking at alternative routes to increasing our unit numbers, such as long-term lease agreements and joint ventures with other developers, to take advantage of Section 106 agreements in our geographical areas. Should good transfer opportunities arise we would certainly consider the proposals in the best interests of the association. Since the end of the financial year, we have taken an initial 10-year lease on 21 units of affordable housing in Carpet Street on Sugar House Island, Stratford and will actively pursue further similar opportunities as and when they arise. Alongside these plans ARHAGwould also be open to discussions with other providers about combining our operations to achieve growth and to develop our ‘go to’ agenda. To facilitate these plans, ARHAGwill continue to make strategic disposals of properties in south London to improve efficiencies and release operational resources so they can focus on our portfolio of accommodation for migrants and refugees in north and east quarters of London and adjoining areas. To this end we completed the sale of 10 units during the year to another Registered Provider. We have also handed back further temporary social housing properties to NewhamCouncil. “We are committed to reviewing our 2017-22 business plan to refine our position on further developments.” 20 ARHAG