Get Living has set its sights on more acquisitions as it posts significant rises in profit and revenue for 2022.
The operator and developer’s net profit rose to £136.3m during the year, doubling the previous year’s equivalent of £58.1m.
Total portfolio value grew by 13.8% to £2.7bn and its net rental income rose to £62.6m, from £45.4m in 2021.
Revenue increased by 40% to £99.2m, after launching homes at New Maker Yards in Salford and East Village in Stratford, E20.
The business plans to extend its footprint in locations such as London, Birmingham and Manchester.
Its management platform increased its portfolio of operational homes by 26%, to 3,918, in 2022.
Get Living is launching 649 homes in Lewisham, SE13, by the end of the year. It is also developing 485 homes and commercial and leisure space at Elephant & Castle, SE1.
Earlier this year, Australian pension fund Aware Super signed a deal to buy Qatari Diar’s 22% stake in Get Living.
Rick de Blaby, chief executive officer of Get Living, said: “This substantial backing of Get Living is a huge vote of confidence in our business and the wider sector, giving us real firepower to drive ambitious growth plans for all our stakeholders.”
De Blaby added: “In the context of today’s UK economic backdrop, with real terms wage pressures, low business investment, and low productivity, investing in and delivering high-quality, energy-efficient homes has never been more important.”
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