Annual Financial Statements - Great Places
Great Places Housing Group Limited
14 September 2026
GREAT PLACES HOUSING GROUP LIMITED
£345,000,000 4.75 per cent Secured Bonds due 2042 (ISIN Number XS0842152281)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
Great Places Housing Group Limited ("Great Places") has approved and adopted its financial statements for the year ended 31 March 2026. The accounts were approved by the Great Places Board at its meeting on 26 August 2026 and were subsequently signed by the external auditors.
Turnover increased to £215m in 2025/26, an 11.6% rise from £192m in 2024/25. The growth was primarily driven by increased rental income and a larger property portfolio.
Operating surplus increased to £53.4m from £50.0m in 2024/25. The operating margin, as measured by the Regulator of Social Housing value for money metric, reduced from 23.0% to 21.6%. The margin remains ahead of the prior-year sector median.
Turnover from social housing lettings was £162.3m (2024/25: £149.9m). Turnover from shared ownership first tranche sales and open market sales was £37.8m (2024/25: £25.1m).
Total fixed assets stood at £2.07bn (2024/25: £1.84bn).
Total debt, net of arrangement fees, was £972.6m (2024/25: £764.7m). Fixed-rate debt accounted for 81% of the total, providing protection against interest rate volatility. Group cash balances were £27.7m, including £5m held on behalf of others.
Great Places continues to hold G1 governance and V2 viability ratings from the Regulator of Social Housing. During the year, the consumer standards rating was upgraded from C2 to C1, further demonstrating progress in improving customer experience outcomes.
Our credit ratings are A3 (stable) with Moody's and A (negative) with Fitch.
Operational performance remained resilient in a demanding operating environment, with arrears continuing to be well controlled despite ongoing cost pressures for customers. Great Places continued to provide support through customer support and tenancy sustainment services, including tenancy and employability coaching, as well as financial and debt advice. Around £2m was invested enabling support to reach more customers.
Investment in the energy efficiency of homes continued during 2025/26. A total of 705 homes were improved to EPC band C or above, supported by ongoing retrofit activity to improve comfort, affordability and energy performance for customers.
Customer safety remained a key priority throughout the year. Great Places continued to assess buildings and deliver works required to meet evolving building safety legislation, including investment in safety enhancements and the development of remediation plans. Customer engagement commitments are being delivered, supported by work on an overarching engagement strategy and building-specific plans for high-priority and high-rise properties.
Repairs remain the service most frequently used by customers, with approximately 60,000 repairs completed during the year, mainly by the in-house team. Customers consistently identify an effective repairs service as their top priority, and our transactional scored showed performance remained strong at 8.8/10.
The affordable development programme delivered 1,280 new affordable homes during the year and achieved the highest level of shared ownership sales to date, with 377 homes completed. Great Places entered the new financial year in a strong delivery position, with more than 2,600 homes on site as it continues to meet its commitments to Homes England.
Great Places has recently secured £320.6 million through the Government's new Social and Affordable Homes Programme. The allocation will help deliver 2,600 social and affordable homes across the North West and South Yorkshire in the coming years. It allows Great Places to continue its impactful work delivering homes across a wide range of tenures, helping to meet different housing needs for customers and communities.
The funding reflects confidence in our development programme and our ability to deliver high-quality homes at scale, and it will support us to deliver on the commitments set out in our 10 year ambitions.
As a profit-for-purpose organisation, Great Places reinvests surpluses in line with its values and its vision of "Great Homes, Great People, Great Communities."
The financial statements for Great Places are available on the website at:
https://www.greatplaces.org.uk/about-us/corporate-and-investor-information/financial-accounts
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