LONDON - Beyond Housing, a community benefits society, has made significant strides in its sustainable housing projects, according to their latest Sustainable Bond Allocation and Impact Report for the fiscal year 2023/24. The organization, which manages approximately 15,354 homes across nine local authorities in the northeast of England, has outlined its achievements and future commitments in alignment with its strategic objectives.
During the year, Beyond Housing invested £45.5 million on housing property for letting, and completed 291 homes as part of its goal to build around 2,750 new homes by 2030/31. These new homes include a mix of affordable rent, shared ownership, rent to buy, social, and outright sales properties. Notably, the regeneration of the Church Lane (North) estate in Eston is nearing completion with an investment of about £16.7 million, aiming to meet energy efficiency targets and enhance community living spaces.
In its environmental efforts, Beyond Housing has secured a £1.12 million grant from the Social Housing Decarbonisation Fund, complemented by £2.5 million of additional funding, to improve the energy performance and reduce carbon emissions of 97 homes. The organization remains committed to achieving an Energy Performance Certificate (EPC) ’C’ rating for all its properties by 2030 and has implemented various energy-saving measures in its annual capital works program.
Socially, the society has focused on safety, customer satisfaction, and community involvement, ensuring that all properties meet stringent gas and electric testing protocols. Beyond Housing has also formed partnerships to address homelessness, such as the REACH project in Scarborough, which aims to support vulnerable individuals in establishing independent living.
Governance-wise, Beyond Housing has maintained a G1/V1 regulatory grading from the Regulator of Social Housing as of March 2024, reflecting strong governance and viability standards.
The report also details the allocation of proceeds from Beyond Housing’s £250 million sustainable Environmental, Social & Governance (ESG) bond issued in May 2021. With a maturity date of 2051 and a coupon rate of 2.125%, the bond is listed on the International Securities Market (ICMA) of the London Stock Exchange (LON:LSEG). The bond’s proceeds have been allocated according to the organization’s Sustainable Bond Framework, primarily for refinancing existing assets and funding new developments.
This report, which is based on a press release statement, is pending an independent audit by RSM, Beyond Housing’s external auditors. The audit aims to provide assurance on the accuracy and reliability of the reported information. Beyond Housing emphasizes that the report is for informational purposes and does not constitute investment advice.
The organization’s efforts reflect a broader trend towards sustainable development and responsible investment in the housing sector, particularly in the context of environmental and social governance.
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