Financial Statements 2020 | 7
Growth Strategy
Accord is an ambitious organisation and has a clear strategy for growth ; predominantly to achieve our objective of meeting housing need , but also to drive greater efficiencies and financial capacity in order to reinvest in our services and properties . The Board set a target to have 20,000 homes in management by 2024-25 and set out the strategy for achieving this through :
n Creating partnerships with smaller or similar sized organisations where there is a synergy with our vision , values and culture ;
n Developing new properties - we already have a well-established and successful programme and are a Strategic Partner with Homes England ;
n Acquiring stock from other associations , providing they are quality homes in the right area and support our objective to build cohesive and sustainable communities ;
n Managing stock on behalf of others - we have a track record of managing stock on behalf of others and were recently selected as one of Legal & General Affordable Homes ’ first wave of strategic partners .
In late 2019 , the organisation began talks with another Registered Provider , GreenSquare Group , to explore potential partnership opportunities . GreenSquare is a similar sized organisation to Accord and shares our ambitions to grow . The preliminary due diligence confirmed that there is a strong financial case for a merger of equals and the process will continue throughout 2020 as both organisations continue to explore this in greater detail .