A2Dominion has decided to move away from new developments, particularly those for private sale via its Fabrica by A2Dominion brand, and focus instead on investment in existing stock.
The full extent of redundancies has yet to be determined. A spokesperson said: 鈥淭here are currently 70 people affected and there will be a reduction to around half of that number. However, we are unable to confirm exact detail about the numbers of redundancies at this stage as it is still in consultation.鈥�
A2Dominion has seen its new build programme drop from 7,817 at its peak in 2018 鈥� when it was one of the country鈥檚 top 10 developing housing associations 鈥� to 1,645 today.
A2Dominion has already seen its new build programme
The new approach sees the group re-focus priorities to make improvements to services to tenants of its 38,000 homes across London and the southeast.
Chief property officer Michael Reece said: 鈥淲e remain committed to building new affordable homes for those in need, however this will be done in a slightly different way. The shift will see A2Dominion targeting the regeneration and redevelopment of properties that need the greatest investment. Our new strategy will also improve the quality and energy and environmental performance of homes to either improve, regenerate or disinvest in our existing portfolio.
鈥淭his new way of developing homes and improving existing customers鈥� living environments is designed to build resilience and flexibility into our development programme.
鈥淲e will also focus on individual investment strategies for each local authority partner which will focus on reviewing and regenerating current stock. This will also look at stock rationalisation and dis-investment in stock that distracts the group from its core purpose.
鈥淲e鈥檒l be looking at opportunities for redeveloping and improving densification and consider stock rationalisation where necessary to fund new development opportunities within the area.聽
鈥淚mportantly we鈥檒l consult with our key stakeholders and focus on customer needs within that local authority, providing a tailored approach to each of the communities we serve.鈥濃��
鈥淲e also recognise the impact these difficult decisions have on our colleagues and appreciate their hard-work and reliance through this change鈥�.
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