3. Asset Management - the ERDF Retrofit project
2016 saw the completion of the three-year ERDF retrofit project. The overall objective of
this project was to stimulate the local economy through encouraging local businesses
to develop or adapt their existing processes to support Accord in delivering wide
range of property enhancements in line with the Group’s asset management
strategy. Overall the project delivered £3 million worth of improvement works
to the Accord’s property assets. 50%, £1.5m of this was secured from ERDF
funding. The project brief also required a number of new technologies to
be trialled which improved the environmental efficiency of the properties
involved.
A total of 415 properties benefitted from this match funding project:
n 45 properties benefit from improved thermal efficiency following
External Wall Insulation (EWI) works.
n 16 properties were equipped with improved loft space insulation.
n A further 89 dwellings received cavity wall insulation improvement
works.
n 29 Properties were part of the ‘SmartGrid’ system which saw co-operative
principles implemented through energy generation and energy sharing
technologies.
n 236 homes were part of a full window replacement programme involving enhanced
highly efficient windows.
The outcome of these works has been a number of property improvements which have improved the quality and value of the
property, therefore enhancing its future return on investment. In addition these improvements have also made the dwellings more
energy efficient making them more affordable for our customers to live in, and more environmentally friendly overall.
Financial Statements 2016
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