Where it all began
Local Space was created in 2006 by a partnership between the London Borough of Newham and a group of housing professionals. We currently own circa 2,000 homes, mainly in the east end of London the majority of which give homeless people a place to live. The rest of our homes are for keyworkers, most of whom work in the public sector.
Who we are and what we do
Local Space is an innovative and dynamic social landlord with charitable status dedicated to delivering affordable and quality social housing to people on lower incomes to help them improve their quality of life. Our work is focussed in Newham and the wider London area where high private sector rents and fast rising house prices impact on people seeking good quality affordable housing. We have a successful track record in delivery and of adding to Social Value through working with other stakeholders – all from a very solid financial base.
In 2016 we refreshed our partnership agreement with Newham Council to grow our housing stock even further. Our growth strategy which we started in 2016, is for a further increase in our stock of approximately 800 homes over a 4-year period. To date, circa 350 homes have been purchased.
Our business model is innovative and financially successful. We have been re-affirmed a top credit rating of AA – credit rating from S&P Global Ratings as well as G1 and V1 ratings from our Regulator, the HCA.
Our Corporate Objectives
- Homes that people want to live in
- Services that our customers are happy with
- Being a successful business
- Being a well-managed organisation