The continued growth of Karbon Homes in difficult economic times
But with challenge comes opportunity, and despite numerous competing demands and expectations, northern housing association Karbon Homes is celebrating a year of significant growth as an organization, growth that has played a valuable role in fulfilling its mission, customers and communities a strong one Providing a foundation You need to help them reach their full potential.
Paul Fiddaman, chief executive of Karbon Homes Group, said: “Growth is one of the key drivers of our business strategy and in difficult economic times where we are experiencing a rise in inflation and an increase in the cost of living, we are creating efficiencies and development.” Strong sources of income to Providing the organization with additional financial capacity has never been more important.”
Karbon remains focused on exploring growth opportunities that either consolidate its existing geographic footprint or allow the company to gradually grow into adjacent areas where it can add value.
In FY22/23, the affordable housing provider invested over £95 million in its development program, providing communities across the region with high quality, affordable housing that meets the needs of a wide range of residents at different stages of life.
The number of homes the company owns and manages has also grown through a series of successful mergers and acquisitions. This includes the addition of the newly formed 54 North Homes to the Karbon Group, a 3,000 home organization in Yorkshire formed through a merger between Leeds & Yorkshire Housing Association and Karbon Group’s existing subsidiary, York Housing Association, as well as a transfer of 439 homes from South Tyneside Housing Ventures Trust.
Karbon also saw significant growth at its cost-sharing company Karbon Solutions Ltd. Through the CSV, Karbon offers a range of rental and property management services to other tax-exempt housing providers, and in the last year four new partners based in the area joined Karbon Solutions and benefited from the cost-sharing exemption for services, providing VAT savings on the job achieved.
Paul added: “When it comes to growth, we don’t make decisions about new opportunities lightly. It’s not just about getting bigger, because that doesn’t really do anything for us as an organization. What we’re really interested in are opportunities that allow us to achieve greater economies of scale or have a more concentrated base from which we can provide locally focused services.
“In the coming year and beyond, we will continue to innovate and explore new growth opportunities that not only strengthen our strength, capacity and capabilities as an organization, but also build on the services and support we provide that help our customers and communities .”
