Opening Doors - Enhancing Lives

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Pennaf operates across 7 Local authorities in North Wales and owns and manages over 5,700 properties within that region. The group is committed to providing high quality new homes through its main Registered Social Landlord’s (RSL’s) Clwyd Alyn Housing Association and Tŷ Glas.

The Groups Primary Purpose is “Opening Doors – Enhancing Lives” and it’s five corporate objectives are:

We invest in and adapt houses in the community
Residents are satisfied with our services
We are financially resilient and deliver value for money
We are governed effectively
We maximise our people’s potential, effectiveness and engagement
You can find more information via each of the company websites: 

Financial Information 

Group statement of comprehensive income - For the period ended 30 September 2017

The Group’s strong operational performance and efficiency has resulted in robust financial health, despite economically challenging times. Over the past three years the group has experienced strong growth. The Group’s intention is to continue to grow and we intend to deliver 1,500 new homes over the next 5 years. The Group’s most recent financial statements are available on the Pennaf website: /publications/


Our financial strength and stability has been supported by the rating issued by Standard and Poor’s, with a rating currently of A Stable. Standard and Poor’s view was that Pennaf’s enterprise profile was a rating strength as was the high quality earnings. They also felt that Pennaf will be able to pursue its development program while containing financial risks.

Bond Issue

The Group was the first in Wales to secure £160 million publicly listed bonds through the capital markets, with a further £90 million retained for future investment. These funds have been used to reduce financing costs by settling bank debts and to build additional housing in line with the Group’s aims.

Operational Information

The Group is regulated by the Welsh Government and the latest Regulatory Judgement Report, which was issued in September 2017, gave the Group the top rating of ‘Standard’ for both Governance and Services, and Financial Viability.

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