Investor relations

At Thirteen, we're a landlord and housing developer providing homes for rent and sale throughout North East England. We manage 34,000 properties from Northumberland to York, with the majority of homes for rent and sale in Teesside.

Thirteen provides customers with homes, support and opportunities to grow.

In July 2017, Erimus Housing, Housing Hartlepool, Tees Valley Housing, Tristar Homes and Thirteen Care and Support joined in partnership to create one strong social purpose business called Thirteen.

Our 1,600 colleagues provide services for more than 70,000 customers across Teesside and other areas of the North East, including North Yorkshire, County Durham, and Tyne and Wear.

Our reason for being is to provide good quality homes and support for those in housing need. We provide support for anyone who needs a little help: help to get on the housing ladder, help to pay the rent, help to keep their home in good repair.

As well as property for rent, we have a track record of providing homes for outright sale, shared ownership and deferred sale. By 2024, we also have plans to build 3,300 new homes, investing over £1bn in improving our services, tenants’ homes and their neighbourhoods.

In 2018, Thirteen Homes acquired Gus Robinson Developments to help deliver high quality homes in the region. In addition to delivering homes for sale, Gus Robinson will also deliver affordable housing schemes and specialist housing projects on behalf of Thirteen.

Trading update


  • Thirteen completed 83 homes, (58 of which were affordable) in the first half of 2020/21, with 368 homes forecast to be completed by the year end (2019/20: 419)
  • Turnover for the year to-date was £85.4m (2020 Q2: £92.0m)
  • Operating surplus for the year to-date was £20.4m (2020 Q2: £20.1m)
  • The surplus for the year to-date was £13.5m (2020 Q2: £16.9m)
  • Thirteen benefits from a very strong liquidity position with sufficient cash and committed debt facilities to cover the next 59 months financing requirement.

Performance update

Thirteen delivered a solid operational and financial performance to the second quarter of 2020/21 against a challenging Covid-19 backdrop, achieving a surplus of £13.5m for the year against a revised target of £9.2m.

All VFM metrics are on target or within tolerances to the end of the third quarter, apart from reinvestment percentage and new social housing supply delivered, which are both lower than planned due to lower anticipated development expenditure.

Gearing and EBITDA MRI remain well within our Golden Rule parameters, and EBITDA margin is at 36.2%, forecast to reduce to 27.5% by year-end.

Our New Homes Delivery team has plans to complete 3,200 homes over the next five years as part of Thirteen’s strategic plan. During the first half of the year, we completed 83 new homes, of which 58 (70%) were affordable homes. We have invested £13.2m in developing new homes and we're forecasting to build 368 homes this year.

The team has started delivery of a five-year strategic partnership with Homes England, delivering 1,000 new affordable homes for rent and shared ownership with a £40m funding allocation. As part of this programme, the team will focus on acquiring sites within the Tees Valley and North Yorkshire.

The team has made significant progress, with imminent starts on-site for over 200 affordable units and planning applications being finalised on a number of key sites. Alongside this, the team continues to deliver on its SOAHP 16-21 obligations, with schemes on-site in Middlesbrough, Darlington and Stockton and further afield in Morpeth and Whitby.

Outside of the Homes England funded programmes, we continue to strengthen our links with national housing developers and are able to deliver affordable homes on larger sites within the area. These links have strengthened our pipeline of development opportunities which continues to grow as we look to explore not only in our core areas in Teesside but further afield too.

Housing fixed assets stand at £1.04bn which is unchanged from the start of the year. Outstanding debt is £336.1m and available cash and committed liquidity facilities are £249.8m at the end of the quarter.