Last year we marked the milestone of 5,000 homes being completed or under construction – a success that has been strongly driven by our Four Guiding principles. As we look forward to our next stage of scaling – with a goal of 20,000 homes by 2034 – I want to also look back and reflect on how these principles have and can continue to support our work.
We formally introduced our four guiding principles in 2024 after reflecting on our impact so far – taking a look at our drivers, culture and values that were already ‘unofficially’ guiding us. This ensured the principles were authentic to our business and people, so our Thriving network could confidently and passionately champion our principles in everything they do.
Why we formalised our principles
Since joining the business in 2023, I recognised these principles had already been guiding decision making from day one, and setting them out clearly would help us articulate our approach to others. These four guiding principles give our people and partners a clear, consistent and collective focus and help to ensure that we can achieve our intended impact together for the communities we serve.
As mandates increase and the investment market widens, we believe it is essential to clearly define the purpose of Thriving Investments and set guardrails to ensure growth remains impact-led. Our guiding principles are embedded into the investment committee process and form part of senior management’s objectives. They are used to prioritise opportunities as we grow and keep us grounded to what truly matters – creating thriving communities. As we grow as a business, we will continue to review these to ensure they remain relevant and ring true to our vision and goals.
The four principles:
Principle 1: Bringing institutional capital to tackle the housing crisis
While each of these principles serves our audiences in different ways, they are all critically important in driving our mission to create genuine social impact and build thriving communities that help address the housing crisis. Our role is to work with institutional capital to create more homes, in the right place at the right price.
Combatting the housing crisis is a collective goal and one of the top priorities for our people and partners. Our first principle therefore sits at the forefront of our work, and acts as our north star.
For us, the competition isn’t other developers delivering homes: it’s the rising levels of homelessness and housing insecurity affecting our communities. Every step we take to close that gap, even by an inch, is a success.
Principle 2: Developing and nurturing thriving communities
From planning through to delivery and beyond, we are deeply committed to our communities. Thriving Investments focus is as a long‑term custodian, not a short‑term trader - we’re focused on building sustainable, resilient communities that last.
We also have a footprint that is UK-wide. Our focus is to build communities in areas with the most acute needs. A strong example is our New Avenue Living fund in Scotland, which is delivering meaningful economic and social value in Glasgow, Edinburgh and the surrounding areas. Through this programme, we are delivering nearly 1200 homes, all of which are 100% affordable, and therefore help to directly address the needs of local communities.
Principle 3: Supporting the health and wellbeing of residents and communities
We are constantly looking for ways we can bring health and fitness into the community and being part of the wider PfP ecosystem supports this whether that's access to green open spaces and clean air or via access to leisure centres – with Places Leisure having over 90 centres nationwide.
In our recent resident surveys, 74% of our Picture Living and New Avenue Living schemes rated their local area highly for its positive impact on health and wellbeing, considering access to open space, air quality, healthcare, leisure and community infrastructure. Furthermore, 63% of ReSI LP residents reported that moving into their new homes made a positive different to their physical and mental health.
Supporting mental and physical wellbeing is considered throughout our whole investment to development arc, and we have a specific checklist we go through when reviewing potential sites and committing to land. This all helps to ensure that the health and wellbeing of residents remain at the heart of our projects.
Principle 4: Protecting the environment and restoring natural capital
We recognise that the investment and management decisions we make as a business, and broader industry, can have a significant impact on the environment both locally and globally. We intend to minimise adverse impacts and, wherever possible, deliver net positive outcomes for nature and the environment.
Therefore, we embed this focus throughout our committee process, acquiring and managing homes to high environmental standards. This includes focusing on lower carbon emissions, renewable energy sources, and enhancing biodiversity.
Some of those impacts I’m most proud of include:
From flood risk assessments at postcode level, our analysis estimates that 97% of our homes are at low or no flood risk, aligning with the Environment Agency’s national datasets.
Our average home emits just 1 tonne of CO2 per year - in comparison to the average UK household emitting approximately 3-8 tonnes.
For our rental homes, 51% of energy supplied to landlord-controlled properties come from renewable sources and the majority of our acquisitions are automatically transferred into renewable tariffs. By the end of last year, we increased portfolio coverage to 100%
These are positive foundations, but we must not as a business or industry rest on our laurels. Ensuring that we consider the environmental impact of our projects at acquisition through the committee process and after through our reporting keeps us accountable and helps to champion an industry that protects the places and spaces around us.
Looking ahead
Our guiding principles are woven into the DNA of our company. They shape our culture, reinforce our values, and align our partners, investors, and team around a shared set of objectives. This creates transparency, accountability, and a common purpose in everything we do.
By clearly articulating what we are building, we naturally attract people and organisations who share our ambition and ethos. And, true to our first guiding principle this collective alignment strengthens our ability to help tackle the housing crisis together.