Auxesia Homes pathway to sustainable and profitable growth accelerates

The ongoing and sustainable growth of for-profit housing provider, Auxesia Homes, continues, as outlined in the organisations’ latest annual report and accounts, where adjusted net assets increased by £3.2m.

The North West RP has made significant strides over the last 18 months to consolidate a pathway of sustainable growth whilst ensuring customers remain at the forefront of everything they do.  Against a backdrop that that includes two sizeable stock transfers allowing for reinvestment, substantial pipeline growth through strengthened developer relationships, fundraising exercises and a refresh of its leadership team, overall tenant satisfaction levels for 2024 rose 1.6% to 86%.

Phil Martin, Interim Chief Financial Officer of Auxesia Homes commented: “We’re pleased to see the positive results of our focused and strategic efforts to create a healthy and profitable business that retains its clear vision and ethos in providing good quality affordable homes. Auxesia is somewhat unique in its position as a privately funded for-profit Registered Provider and we are now at a stage where we can demonstrate the viability of our offering to the sector, driven by a highly focused and clear leadership.”

 
The results published today cover the period where Auxesia Homes successfully completed their first sizeable stock transfer of 89 mixed tenure properties to Weaver Vale Housing Trust. Phil continued: “This successful stock transfer was proof in concept of the viability of the business strategy where rather than repaying investor debt, the proceeds were reinvested into the business and were used to fund exchange deposits, strengthening the pipeline of properties, to be levered from 2025 and beyond.”

“When adjusting for the funding made by our underlying investor, our adjusted net assets increased by £3.2m.”

During 2024 Auxesia Homes extended its financing arrangements with Warrington Borough Council to 2027, and completed the purchase of a further 76 affordable homes. In April 2025, an in-principal decision was made to accept the transfer of circa 300 homes from a for-profit RP under common ownership, a project which is progressing well, with tenant consultation having successfully concluded during the summer.  The transfer is expected to complete in Q4 2025.

Phil continued: “Turnover was lower due to a number of reasons including the sale of 89 units to Weaver Vale Housing Trust and also a reduction in the number of shared ownership sales. It should also be noted that 2023 results were based on a 15-month period and 2024 was a 12-month period. In addition, there was a reduction in shared ownership sales followed on from lower exchanges during 2023 when the business was focused on regulatory recovery rather than growth.”

Claire Donnelly, Interim Chief Executive Officer added “2025 has seen further progress on all fronts with shared ownership sales already exceeding 2024 levels, significant pipeline growth through the establishment of new developer partnerships, and having completed a further stock transfer of 134 units to Onward Homes in June.” 

“The remainder of 2025 and beyond is incredibly positive, with several exciting announcements to be made in the near future. Solid foundations are now very firmly in place, allowing us to successfully build our business in line with our strategic vision.”