Discussions with the investor developer responsible for the redevelopment of Sugar House Island indicated that they are pleased with Arhag’s management of the scheme and they are seeking a longer term relationship. Future phases on the development could yield up to a further 100 affordable units that we may be able to manage. Discussions with Tower Hamlets and Transport for London are also underway jointly with another developer for the redevelopment and regeneration of a large site in the borough. 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. Key to this are the results of the stock condition survey and its impact on the financial capacity of the organisation to invest in new unit growth. 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 reviewing our current 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. Alongside these plans Arhag would also be open to discussions with other providers about combining our operations to achieve growth and to develop our “go to” agenda. Where appropriate to facilitate these plans, Arhag may make strategic disposals of properties to improve efficiencies and release operational resources so we can focus on our portfolio of accommodation for migrants and refugees in London. To this end we completed the sale of the final five units during the year to another Registered Provider. We have also handed back a further temporary social housing property to NewhamCouncil. During the year we acquired the lease on 21 units in Carpet Street on Sugar House Island, Stratford and will actively pursue further similar opportunities as and when they arise. OUR GROWTH 26 ARHAG
RkJQdWJsaXNoZXIy NDA3NTg=