Business Information
Chair and Executives Review 2007:
Swan Housing Group has enjoyed a sustained period of growth in recent years. A significant development programme combined with expansion into east London with successful stock transfers in Tower Hamlets have seen the housing association grow substantially. 
Financial year 2006/07 was no different and the group has continued its development –led growth. We are the lead association in the Swan investment partnership and the group is a significant regional Housing Corporation partner in terms of housing development in the east of England and London.
The group’s development-led strength was further enhanced this year by the launch of Swan New Homes an unregistered subsidiary of the group. Swan New Homes will compete in the private sector housing market with the aim of gift aiding a high level of profit back into the organisation’s social housing activities from 2011 to 2013.
Swan will also be bidding to the Housing Corporation in the 2008-11 development round due to be announced in 2008.
Acceptance as Castle Point Council’s preferred stock transfer partner was a significant achievement this year. If successful in a tenant ballot due to be held in early 2008, the transfer will lead to a 1,500 increase in Swan’s overall housing stock. We are currently working with the council on a thorough and extensive tenant consultation process.
This year has seen significant internal change aimed at consolidating on the organisation’s development-led growth.
A restructuring involving the appointment of fresh directorial experience to the group’s senior team took place in early 2007. We hope to see a significant impact from this restructure in terms of the way the organisation is run and how it develops in future years.
Changes to governance arrangements are also in train. The board recently took the decision to move to a position where tenants form the majority on the group’s subsidiary boards.
I am looking forward to seeing this important governance change enacted by 1 April 2009.
John Synnuck
Chief Executive
Financial Statements
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