2. GreenSquare’s mission is:
to increase the opportunities for people to thrive by building great homes and communities.

3. Martin 1
GS overview
Where Supported fits in

4. Supported Housing 1000 units of 55+ housing
400 units of Supported Housing
Support contracts c.£3m pa
Self-funded TST
1 ECH
G. Leys = 79 ECH units (33 core; 46 dispersed)

5. Fernleigh 38 sale 10 shared owner 32 rented Fernleigh
Purchased 2 ECH schemes from Cottsway Housing Association in 2013
Inherited design; GS small changes (décor, staffing)
Tenure type spread throughout the scheme (best flat in Fernleigh is a rented penthouse)
80 Units
38 open market sale
10 shared ownership
32 rented
Sale
1 bed: £215K
2 bed: £245 - £249K
Service: £ monthly
Sinking fund: £70.60 monthly (tbc, could be % at point of sale; Florries Law)
Core Care: £25 per week
Selling on fee: 2%
LCHO
1 bed: £210 – £215K
2 bed: £245 – £275K
Staircase: 50% to 80% first tranche
Rent: £ – £ monthly (based on 50% share)
Service, Sinking Fund, Core Care & selling on fee as per Sales
38 sale
10 shared owner
32 rented

6. The Paddocks 11 shared owner 33 rented The Paddocks 44 Units
44 Units
11 shared ownership
33 rented
LCHO
2 bed: £180K
Rent: £150 monthly (based on 50% share)
Service: £ monthly
Sinking fund: £96.41 monthly (probably – Florries Law)
Staircase, Core Care & selling on fee as per Fernleigh
11 shared owner
33 rented

7. Marketing strategy & progress
GS Homes branding for both sales and LCHO; extra care as a concept without tenure.
External signage
Leaflets and brochures – distributed via WASC
Stall at Age UK disability event
Local newspaper adverts (Jan 2015) and MUW newsletter
Online advertising:
Our website
Property Portals (Nestoria, Zoopla, Help to buy, Rightmove)
PR events
Topping out events with County Council & key stakeholders Oct 2014
Homes for Britain
Show home and sales office launched 7th February; open ; Thursday – Monday
Over 100 people attended
Andrews estate agents – accessible, experienced, single point of contact on site, Andrews supplied free office and internet support
Direct mail, Google Ad words and further PR after main launch in May.
Progress
Over 100 enquiries with little actual advertising yet.
Fernleigh:
5 Sales reservations (through Andrews)
5 Early bird reservations
3 Easy Move arrangements in place
15 other live leads
One LCHO reservation (Panel’s approved 9 others)
Paddocks:
2 LCHO reservations (Panel’s approved 8 others)
All but two of the above need to sell their property first

8. What have we learned? Strong demand for ECH
Most buyers financially secure
Most buyers would rather not move
Families are key
Access to show flat essential
Internal communication & process
Tenure-blind marketing
Affordability
What we’ve learned
Strong demand for extra care.
Most buyers are in secure financial circumstances with a good asset base.
Normally a distressed sale - most buyers would prefer to remain in their existing home but mobility/health issues forcing them to move.
Families have a strong influence on the purchase. Buyer can give us signed permission to discuss the purchase with elected family members.
Vital that contract clearly states provision of early and unencumbered access to the show flat. Safe access for older people is extremely hard to provide on a building site, but this should be designed and planned for at the earliest planning stage. Momentum lost due to closure of show flat.
Need a clear process and regular communication between Sales team and Allocations Panel for LCHO – all complete app form so we have an idea of care need.
We’ve marketed ECH as a tenure-blind concept; this has put at least one rented applicant off (“not for the likes of me”). At open day, one sales couple asked what floor the rented properties would be on.
Main feedback from open day is that people are finding a rival ECH scheme too expensive whilst ours looks reasonably-priced yet still attractive (a swimming pool was seen as an unnecessary luxury).