Five-year business plan to provide fresh impetus for council’s housing company

A company set up by Swindon Borough Council to build homes in order to boost the local authority’s finances could be given a new lease on life.

When the council's Cabinet meets on Wednesday 9 July, members will be asked to approve a new five-year business plan for Swindon Housing Company after building work stalled in recent years.

Created in 2017, the housing company initially made a profit and successfully delivered housing schemes in Euclid Street before building homes in Pilgrim Close and Sparcells Drive, including specialist homes which enabled the council’s adult social care teams to support residents with their independence and daily living.
After a challenging couple of years during which no new homes were built, the council undertook a review of the company’s commercial activities and its viability. 
As a result of this, the report to Cabinet seeks authority to reignite the company by giving it more potential sites to deliver housing projects and generate an operating profit.
Cllr Kevin Small, Swindon Borough Council’s Cabinet Member for Finance, said: “Due to a variety of factors, both internally and externally, recent projects by the Swindon Housing Company have been unable to get past the drawing board.
“Rather than give up on the company, the review we undertook indicated that there is a pathway for making the company successful, a new Board, management and reporting structure, will help to deliver this success.
“Should Cabinet approve the plans, I look forward to seeing what business cases the company can come up with and then seeing how these are progressed for the benefit of Swindon residents.”
As part of the five-year business plan, Swindon Housing Company will seek to deliver a range of good quality housing options for sale to the residents of Swindon. The plan also demonstrates a pathway back to profitability for the company by year five with the capability to generate profits year on year as a programme of sites is developed.
Alongside successfully creating its own developments, the council says, the housing company will also act as an example to other businesses in the private sector to prove that new residential, commercial and infrastructure projects can succeed in Swindon.
The report to be considered by Cabinet members can be found here.