Derwent Living builds homes despite the downturn
Created on Monday, September 12th, 2011
by Michael Futers
Despite recent economic misery, Derwent Living is continuing to bring much needed affordable housing to the East Midlands.
The Derby-based housing provider has defied the downturn, and last year it built 396 homes. In 2011 the company plans to complete a further 277 homes.
Derwent Living has also been able to invest in existing homes, thanks to the expansion of its commercial portfolio, which has seen the housing provider develop 835 student beds across the Midlands and London.
This commercial success has also allowed Derwent Living to continue building more affordable housing, both locally and nationally and in total the company expects to spend £80million on new acquisitions in 2011.
As well as being able to boast healthy business in hard times, Derwent Living is also continuing to boost its green credentials by rolling out solar panels to 1,000 of its affordable living properties. The company’s solar panel programme will be one of the largest of its kind to take place in the Midlands.
Other developments during 2011 have included a flagship low carbon scheme at Mickleover in Derby, which is due to open for completion in October and the delivery of a specialist development for the over 55’s in the heart of Derby.
Peter McCormack, chief executive at Derwent Living says: “The last few years have been difficult for everyone, particularly in the property industry, but we have weathered the storm whilst still providing much needed affordable housing.
“We are proud that our decisions have resulted in sufficient surplus to keep us afloat in difficult times, and allowed us enough flexibility to maintain our commitment to affordable housing.”