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Can you tell us a bit about your background and what inspired you to pursue a career in property development, particularly in the affordable housing sector?
My journey in property development began with the acquisition of a large portfolio of Buy To Let properties. However, my perspective shifted when I submitted planning permission for a four-bedroom detached house on one of my properties. After successfully building and selling that house, I recognised the significant profit potential in property development compared to Buy To Lets. This realisation prompted me to sell my Buy To Let properties and secure funding from the Bank of Scotland to pursue larger projects.
My first major project involved increasing the number of apartments from 7 to 14 in a development that already had planning approval. This project marked the beginning of a strong relationship with the Bank of Scotland, which continued with subsequent projects, including a 41-unit development in the North West. I also collaborated with other financial institutions such as Barclays and Lloyds to develop 18 houses and 19 apartments, and with Derbyshire to develop 90 units with a mixture of houses and apartments. To support this growth, I built an in-house team, diversified our lender base, and forged strong relationships with multiple banks.
Over the course of 25 years, I honed my skills and expertise in various property sectors. About five years ago, I was introduced to the affordable housing model, and it immediately struck a chord with me. The potential to deliver housing that meets the needs of end users resonated deeply with my passion for making a positive impact. Supplying homes and housing for those in need has been an incredibly rewarding endeavour for me.
What are your primary responsibilities at Alderley Group?
My primary responsibilities include securing and packaging new land, acquisitions, planning, and partnerships with housing associations. I work closely with our COO, Bobby Corish, to drive new business into the company. Additionally, I lead and oversee the construction and delivery of our projects, ensuring that we maintain our high standards and meet our development growth and targets.
What is your vision for Alderley Group in the next five years?
My vision for Alderley Group is focused on achieving substantial growth and scaling up our business operations and team. One of our key objectives is to attract and onboard experienced directors who will play a pivotal role in helping us achieve our ambitious goals. To support our growth, we have already secured new sites that are scheduled for delivery within the next 2-3 years. Our pipelines have been strategically designed around this timeline, ensuring a steady flow of projects and opportunities. The next five years will be about expanding our capabilities and ensuring we continue to deliver high-quality, affordable housing and strengthen our position in the housing market.
What do you believe are the biggest challenges facing the affordable housing industry?
The most significant challenge is dealing with the planning process, which is often complex and time-consuming. Additionally, Registered Providers (RPs) are currently operating in one of four modes:
This means that a large majority of the sector is struggling to deliver affordable homes. Although changes to planning rules are beneficial, they won’t significantly impact if the majority of RPs are unable or unwilling to invest.
Which project are you most proud of?
The project that I am most proud of is Hallwood Park. This development stands out to me because of the exceptional quality of the finish that was achieved, which truly showcases the progress our company has made. One aspect of Hallwood Park that I find particularly innovative is the installation of the intratone system. This smart access control system has greatly enhanced the living experience for the residents. It provides a seamless and convenient way for residents to access their homes, while also ensuring enhanced security measures.
How does Alderley Group engage with communities?
We take community engagement very seriously. All our projects are registered with the Considerate Constructors Scheme, where we consistently achieve excellent ratings. We also offer apprenticeships and work experience opportunities, support various charities, and actively work with the community to gain feedback on designs and facilities.
At Alderley Group, community engagement is a core value that we prioritise in all our projects. We believe in building strong relationships with the communities in which we operate.
What emerging trends in property development are you excited about?
Renewable energy is an area we are extremely passionate about. This includes incorporating renewable energy technologies such as solar panels, air source heat pumps, wind turbines, and geothermal systems into our properties. By harnessing the power of renewable energy, we can reduce our carbon footprint and contribute to a more sustainable future. We’ve been a zero-gas company since 2019, staying ahead of the times which demonstrates our commitment to sustainability and energy efficiency, and continue to integrate more sustainable methods into every project.
What advice would you give to someone aspiring to a leadership position in property development?
My advice would be to find a model with a solid exit strategy. Your risk is in your exit – whether it’s forward funding, pre-sales, investor sales, package deals to housing associations, or open market sales. Understanding and planning your exit strategy is crucial to mitigating risks and ensuring the success of the delivery and completion of your projects.
Alderley Group CEO, Kevin Corish, and a representative of a local Housing Association
