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A2 Dominion increases building plans by a third
One of London’s largest housing associations has increased its development plans by a third.
A2 Dominion has announced that it plans to deliver 6,000 homes over the next five years, a significant increase from its previous estimate of 4,500.
It had previously aimed to deliver 900 homes a year, but now plans to build 1,000 a year for the next three years, and 1,500 a year after that.
To achieve this, it has restructured its executive team. Two executives, John Knevett and Nicholas Yeeles, will leave, with Nick Hutchings, formerly responsible for the South East region, heading up a new centralised commercial division.
The association released its revised plans shortly after it recorded a 27% reduction in its surplus for the financial year 2016/17, largely due to a revaluation of its investment properties.
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Darrell Mercer, chief executive at A2 Dominion, said: “This is an exciting time for A2 Dominion as our ambition is to develop 1,500 new homes each year by 2020.
“John and Nick have made an immeasurable contribution to the development of the group over the years. They have ensured that we have significantly increased the number of new homes we provide and will be leaving the commercial division in the capable hands of a new leadership team.”
