Peabody Group is pleased to announce the appointment of Elly Hoult to its Board with immediate effect. Elly is currently the Deputy CEO and Chief Operating Officer for Peabody and has played a key role in strengthening Peabody’s local approach.

Elly brings significant operational experience, including direct leadership in operations, supported housing, and asset management. She has a strong track record of listening to residents and shaping services around what matters most to them. She is widely respected across the sector for her practical insight, collaborative style and commitment to improving outcomes for communities.

Her appointment forms part of Peabody’s ongoing commitment to refresh and strengthen the diversity, skills, perspectives and lived experience of its Board. 

Caroline Corby, Chair of Peabody, said: “Elly’s experience and insight will be invaluable to the Board and ensure we continue to put residents at the heart of everything we do. She brings a deep understanding of residents’ priorities and the day to day of realities on the ground of taking a local approach to deliver safe, high-quality homes and services.”

Read the unaudited consolidated trading update for Peabody Group for the six months ending 30 September 2025.

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Peabody has today (14 October) published its Environmental, Social and Governance (ESG) Report 2025 highlighting how its making sustainability part of everything it does.

Commenting on the report, Ian McDermott, Peabody Chief Executive, said: “As a not-for-profit housing association we do much more than provide affordable homes.  

“We work together with residents and partners to help provide the support and services that local people really need. We’re also doing what we can to reduce the impact we have on the environment and prepare for the challenges of climate change.”  

During the year, we invested £9m in local communities, helping thousands of people with community support programmes, access to food projects, and training and skills initiatives.

We increased the energy efficiency of residents’ homes so that nearly 82 percent have an Energy Performance Certificate (EPC) rating of C or above, meaning they’re easier to keep warm and have a lower carbon footprint. This compares with fewer than half of homes in the private rental sector. 

At £147, our average weekly social rents are £59m below the government’s target social rent and around a third of what someone would pay in the private rental sector. This provides a benefit to residents, local communities, and the UK economy of £1.1bn. 

We publish our ESG Report each year showing its progress and performance against the 46 metrics in the Sustainable Reporting Standard (SRS). This shows we’re serious about the environmental and social impact we make, and the governance structure in which we operate.  

Key highlights from the year to the end of March 2025 include:  

• Spending £431m maintaining and improving residents’ homes.  
• Investing £9m in local communities.
• Helping 4,500 people to improve their financial situation. 
• Paying all 3,900 colleagues the real or London Living Wage. 
• Creating £10.4m in social value for residents through work with partners.

Contact: Anthony Marriott, Director of Treasury & Corporate Finance or Ben Blades, Assistant Director Corporate Affairs

Peabody Group (incorporating Peabody Trust, Peabody Capital PLC, Peabody Capital No.2 PLC and TCHG Capital PLC).

Peabody has today published its Annual Report for the year ended 31 March 2025 alongside its Residents Review and Resident Engagement Impact Report. The annual reports have also been published for Peabody Capital PLC and Peabody Capital No.2 PLC.

Ian McDermott, Peabody Chief Executive, said: “Despite multiple challenges, including one of the most difficult financial climates for many years, we’ve continued to put residents at the heart of everything we do and focus on putting the right foundations in place to improve services. 

“Our top priority this year has remained safety and looking after residents’ homes - reflected in our spend of £431m on homes, including £200m on repairs and routine maintenance and a further £231m on improvements. We’re continuing to invest in local communities, providing the support and services people need in their neighbourhood through our Peabody Community Foundation.

“Our rents are low at £147 a week on average - £59m below the government’s target social rent and around a third of what someone would pay in the private rental sector. We’re having to spread that income across an ever-increasing range of demands, including retrofitting homes to improve energy efficiency and wide-ranging regulatory changes. We are financially stable and resilient, but competing challenges alongside constrained income inevitably puts pressure on our capacity to invest. 

“As a result, our financial performance remains under pressure and below the level that we want, but we expect to see a strengthening of this over the next three years. Meanwhile, we continue to focus on the things that matter most to residents and are working hard to manage financial and environmental risk, so we’re well prepared for the future.”

Peter Baffoe, Peabody resident, Chair of the Resident Experience Committee and Vice-Chair of the Peabody Board said “The past year has been about managing challenges and listening, learning, and making changes to improve homes and services for residents. I’m confident that the organisation is heading in the right direction, with the new local focus making a positive impact. 

“Last year, Peabody teams hosted over 270 engagement and listening events and influencing sessions attended by more than 2,250 residents directly. 

“Going forward, I know the Board and Executive are committed to making sure that residents’ voices are heard and acted on and that they influence operational and policy decisions throughout Peabody.”

Finances 

Despite the challenging operating environment, we had an overall turnover of £1.03bn (2024: £989m) and an operating surplus of £220m (2024: £244m). This was used to cover essential costs and financial obligations, with the remainder reinvested directly into residents' homes and services.

Our rents remain significantly below the private rental market, with an annual rent subsidy of £1.1bn.
Investing to improve 

Our focus has been on maintaining and improving residents’ homes and putting the right foundations in place to deliver better services to residents.  

As well as spending £431m on residents’ homes, we aligned routine maintenance and repairs with home and energy-efficiency improvements to ensure value for money. We also consulted with residents to help shape our new local repairs service and improve the way we communicate. 

The number of residents’ homes with an Energy Performance Certificate rating of EPC C or above rose to 81.7 percent (2024: 78 percent) and the average Standard Assessment Procedure (SAP) rating was 74.52 (2024: 73.71). 

Overall satisfaction amongst residents who rent their home rose to 58.7 percent (2024: 57.7 percent), while satisfaction with repairs climbed to 64.1 percent (2024: 62.6 percent).  

Supporting residents 

We invested £9m in local communities through our Peabody Community Foundation, supporting projects and activities attended by 30,000 people, and helping provide 65,000 hours of free sessions on everything from wellbeing workshops to English lessons.  

Our Financial Inclusion team received 4,500 referrals for support and helped residents’ increase their income by a combined £3.5m.

New homes 

We spent £336m building 1,010 new homes (2024: 1,381), of which 626 were for social or affordable rent. 

Summer 2025

This summer we published our new Group Strategy which sets out our plan for the next three years and is focused on continued improvement across our c.140 neighbourhoods.

We also appointed a new resident Board member to help ensure the Board is connected to the real experience of residents and that their voice is heard at the highest levels. We now have three residents on the Board. 

Peabody Group announces the following unaudited information ahead of its Annual Report for the year ended 31 March 2025 to be published in the autumn.

Our turnover for the year was £1,035m, up from £989m in the previous year. Net rental income from social housing properties increased to £805m with other income of £230m remaining at similar levels to last year. 

Our rent collection rate for the year was 99%, with average Peabody social rents at £147 per week. Our financial inclusion team continues to work closely with residents in financial difficulty, supporting them with flexible payment plans and helping to boost their income. 

Despite ongoing cost pressures and a challenging operating environment, our core business continued to perform well in 24-25. Our social housing margin was 19% in the year. Our operating margin after impairments and provisions excluding sales was 23%.

Read the full statement

Peabody Trust has published a £1bn Note Programme dated 14 February 2025.

Read the full update

Read the unaudited consolidated trading update for Peabody Group for the six months ending 30 September 2024.

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Peabody has today (14 November) published an updated Sustainable Finance Framework.

It sets out a range of ESG objectives and information on how the Group's resources will be used to make a positive impact in local areas and alongside local people and communities.

In 2022, Peabody raised £350m through a sustainable bond and published the use of proceeds and allocation report in 2023. In line with the initial framework, the money has made a positive impact, helping to improve and upgrade residents' homes, part-fund new affordable, energy efficient homes, and support a range of services and community programmes.

The updated framework objectives are closely linked to the Sustainable Reporting Standard for Social Housing (SRS) and include:

• Renovating residents' homes to increase their energy efficiency rating to at least EPC C, so they require less heating. This reduces emissions and helps reduce energy costs
• Continuing the sustainable regeneration of local areas and working in partnership to provide new social and affordable homes where we can
• Improving biodiversity by effectively managing the grounds, habitats and trees on estates, and creating new green spaces and habitats where residents and nature can thrive together
• Integrating renewables into buildings' energy systems to help create greener homes and more sustainable places. This includes installing solar panels and air source heat pumps and carrying out investigative work to decarbonise homes through energy from waste or ground source heat pumps
• Buying or leasing low or zero-emission vehicles and installing more electric charging points to reduce emissions and help meet the Group's net zero goals
• Supporting residents and community partners to deliver children's activities, sporting programmes and health and wellbeing sessions to help neighbourhoods become more sustainable
• Working with partners to generate employment opportunities and design programmes to help residents improve their skills and increase their earnings potential
• Promoting positive mental and physical health and wellbeing by creating new community spaces and play areas close to residents' homes.

NatWest supported Peabody in preparing the framework as Sole Sustainability Structuring Bank, whilst DNV provided Second Party Opinion validation which confirms that the framework is in line with Social Bond Principles ("SBP") 2021, Green Bond Principles ("GBP") 2021 and the Sustainability Bond Guidelines ("SBG") 2021; and the Loan Market Association ("LMA") Green Loan Principles ("GLP") 2021 and Social Loan Principles ("SLP") 2021.

Commenting on the framework, Phil Day, Peabody's Chief Financial Officer said: "This sustainable finance framework sets out how we plan to allocate our resources going forward. Building on the positive impact generated by our last sustainable bond issue, we want to keep momentum by investing in looking after and improving residents' homes as a priority. Demand for new affordable homes has never been greater, and we'll continue with all our partners to do what we can to help. We're also focused on long-term stewardship in local areas, supporting communities and driving sustainable, inclusive growth through our 'whole place' approach to regeneration."

Peabody Group announces the following unaudited information ahead of its Annual Report for the year ended 31 March 2024 to be published later in the year.

This is the second year of trading incorporating Catalyst Housing Limited and its subsidiaries as part of the Peabody Group. It’s the first year of trading following the transfer of engagements of Catalyst Housing Limited into Peabody Trust and Rosebery Housing Association Limited into Town & Country Housing.

We’ve continued to incur planned costs in relation to the merger, but the consolidation of our structure and integration has progressed well.

This has allowed us to move towards the next phase of transformation, getting closer to residents through responsive, locally focused services, and better use of data and technology across our operations.

As part of a post-merger review the Peabody Group Board has identified assets which are not part of our core operations or strategy going forward. A project to sell commercial land and other non-core assets is progressing, enabling us to simplify our activities, pay down debt and keep investing in our priorities for the benefit of residents.

Read the full results