As part of Strategy 2028, we are strengthening the long-term resilience of Letchworth Garden City through active management of our property portfolio, reinvestment in our buildings and wider stewardship of the estate.
The Foundation owns and manages a diverse range of properties, which generate the majority of our income and support our charitable commitments. Many of our buildings are older and require increasing investment, so we are prioritising improvements to keep our shops, offices and industrial buildings fit for the future. Alongside this, we care for the estate through the management of green spaces, trees and woodlands, helping to preserve the distinctive character of Letchworth.
What are we doing?
We are proactively managing our assets to maximise sustainable income, reduce voids and bad debts, retain tenants and invest in our properties where it is most needed. We are also selectively disposing of assets to diversify our investment portfolio, while responding to changing needs and market opportunities and supporting the transition to a low-carbon future.
What difference will this make?
A more resilient estate and a balanced, sustainable investment portfolio that generates income to support our charitable work, fund ongoing reinvestment and safeguard the distinctive qualities of Letchworth Garden City for current and future generations.
Latest Updates
A Strong Start
In Q1 of 2026, we maintained strong rental income and good rent collection rates, providing a solid foundation for supporting our charitable commitments.
Challenging economic conditions have slowed the property market, increasing pressure on voids and making the completion of asset disposals more difficult, although good progress has been made in bringing properties to market.
Our planned property maintenance (PPM) programme has started well, with works underway at The Colonnade & 1–5 Eastcheap, Lyall Chambers and the Settlement, alongside procurement and contract appointments progressing for Such Close 2 and 32 Leys Avenue.
External Works at The Colonnade and Eastcheap
As part of our reinvestment back into the estate, planned property maintenance began on The Colonnade and Eastcheap. The exterior refurbishment carefully balanced the need to preserve the building’s heritage with modern improvements for residents, such as adding high-performance double-glazed windows into bespoke timber frames that faithfully recreate the original look of the building.
This was a complex, cross-team project involving our Construction and Asset Management teams, Heritage Advice Team, and external advisors. It was a challenging refurbishment, but the results speak for themselves.
Find out more about the project and see the transformation here.
Strategic Leads: Mark Coles and Matthew Peak
Matthew Peak, Executive Director - FinanceMy role in leading this Strategic Aim involves supporting good financial decision-making.
This includes: ensuring we have a transparent budget-setting process where choices, risks and rewards are clearly articulated; assessing the trade-offs between retaining or disposing assets and the merits of different long-term investments; managing funding risks, cash flow and making good use of our cash deposits in line with our reserves/cash holdings policy; and supporting our strategy to diversify our long-term investments away from property and into sustainable listed investments.
I am proud that the Foundation is now more financially resilient as a result of holding (c.£30m) 12% of its long-term investments in sustainable listed investments. These investments offer a strong income-based return and help us diversify away from risks associated with managing and maintaining properties.
