Selling non-core assets currently a ‘focus’ for Peabody

Disposal of assets is a “particular focus” for Peabody at the moment, according to the housing association’s executive director for development.

Speaking on a panel at the Housing Community Summit yesterday, Philip Jenkins explained that it was looking to sell up assets which are non-core or could be managed better by other registered providers.

“We’re looking at where we can potentially dispose of non-core assets or other assets that we feel others may be better able to manage because of the geography or the typology,” said Jenkins. 

“So that’s that’s sort of ongoing, something that happens as business as usual, but it has a particular focus for us at the moment,

He also revealed that the housing association was in talks with the Greater London Authority and Homes England about where the pair might be able to invest and take development risk rather than simply providing grant.

“We’re looking at whether there’s an opportunity for doing that at scale, in partnership with either one or both of them,” he said.

Peabody invested £533m in new homes in the 12 months to the end of March this year, making 1,157 new starts on site, down on the 2,376 figure previously.