Stonewater

What Stonewater does

Stonewater is one of the UK's largest social housing providers, operating as a charitable Registered Society (Stonewater Limited, No. 20558R) with a group structure that includes wholly-owned subsidiaries Greenoak Housing Association, Mount Green Housing Association, Stonewater Funding PLC (a London Stock Exchange-listed funding vehicle), and development and procurement entities. The organisation owns and manages approximately 36,000 homes for 78,000+ customers predominantly across central and southern England, offering four core product lines: social rent housing, Shared Ownership sales, retirement living with assistive technology, and supported accommodation including domestic abuse refuges.

Its operating model blends traditional housing association activity with digital and sustainability-led differentiation. The MyHome portal and mobile app handle tenant-facing services (repairs, rent payments, account management), while a Customer Hubb supports community engagement. On the asset side, Stonewater builds to Passivhaus ultra-low-energy standards in new developments (SAP 86+ ratings), partners with Wondrwall for AI-driven smart heating, and runs an active retrofit programme targeting EPC C for existing stock ahead of the 2030 government milestone. Construction is increasingly delivered via Modern Methods of Construction (MMC).

The revenue model is hybrid: recurring social rents set below market rates per government formula (the largest stream), one-time Shared Ownership sales receipts, and significant debt funding through sustainability-linked bank facilities (Lloyds £200m, RBS £75m+£102m, a five-lender £254m revolving package) and the Stonewater Funding PLC bond programme. The organisation is rated A- by S&P with stable outlook, holds G1/V2 gradings from the Regulator of Social Housing, and operates with 501-1,000 employees. Strategic positioning centres on scaling energy-efficient affordable housing supply, decarbonising existing stock, and building thought leadership through the Greenoak Centre of Excellence.

Name

Stonewater

Legal name

Stonewater Limited, Charitable Registered Societies No. 20558R

Website

https://stonewater.org

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Stonewater is one of the UK's largest charitable social housing providers, managing approximately 36,000 affordable homes for 78,000+ customers across central and southern England through social rent, Shared Ownership, retirement living, and supported housing, with a strategic focus on energy efficiency and decarbonisation.

Ownership category

akta.pro rank

Headquarters

HQ city

Whetstone

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Social Housing Rents: Rental income from approximately 36,000 homes managed across central and southern England. Tenants pay social rent which is typically below market rates.
2. Shared Ownership Sales: Sale of partial home ownership stakes to customers who cannot afford to buy outright. Customers purchase a share of the property and pay rent on the remaining portion.
3. Sustainability-Linked Loan Funding: Secured £200m sustainability-linked loan from Lloyds Bank with commitments to energy-efficient retrofitting and new affordable homes.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels10 records

Core offering

Stonewater is a UK social housing provider that owns and manages approximately 36,000 affordable homes serving more than 78,000 customers across central and southern England. It delivers social rent tenancies, Shared Ownership home purchases, Retirement Living, and Supported Living accommodation, with digital customer services provided through the MyHome portal and app.

Product overview

Stonewater is a social housing provider offering a comprehensive portfolio of housing services. The core offering includes rental properties, shared ownership (homes to buy), retirement living, and supported housing for vulnerable customers. Digital services are delivered through the MyHome customer portal and app, enabling 24/7 management of repairs, payments, and account access. The Customer Hubb provides community engagement functionality. Sustainability is enhanced through Wondrwall smart heating systems and Passivhaus-standard construction in new developments. The Greenoak Centre of Excellence drives thought leadership on zero-carbon housing.

Differentiator

Problem solved

Functional benefit

Products and services

• Homes to Rent

Quantifiable outcome

• 8,000 homes built since 2015
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

14 partnerships are on record, tiered core and minor.

• MyPadcoreStrategic or Co-development PartnerResidential developer partnered with Stonewater as registered provider for up to 75 affordable homes scheme in Ellistown, Leicestershire.
• RichboroughminorStrategic or Co-development PartnerLand promoter that sold site in Ellistown, Leicestershire for affordable housing development.
• Greenoak Housing AssociationcoreStrategic or Co-development PartnerBrought into Stonewater Group, expanding affordable housing portfolio with focus on sustainability and customer support.
• Longleigh FoundationcoreStrategic or Co-development PartnerProvides free financial and wellbeing support to Stonewater customers. Funded INVITE project research with University of Stirling.
• University of StirlingcoreStrategic or Co-development PartnerResearch partnership to explore how assistive and everyday technologies can be implemented in retirement living properties to improve residents' quality of life (INVITE project).
• IPPR (Institute for Public Policy Research)coreStrategic or Co-development PartnerLeading think tank partnership for research on decarbonising UK's existing housing stock, including GreenGo report and All hands to the pump report.
• DemoscoreStrategic or Co-development PartnerBritain's leading cross-party think-tank partnership for research on impact of Covid-19 and shift to home working on low paid workers (Inside Jobs report).
• WondrwallcoreTechnology or IntegrationTechnology partnership for smart heating systems that learn occupant behavior to reduce carbon emissions and maximize cost savings in new-build properties.
• Winsley WhiteminorImplementation/ SI/ Consulting PartnerLocal construction firm, rural housing specialist working with Stonewater on rural schemes including Passivhaus standard developments.
• Thakeham GroupminorStrategic or Co-development PartnerHomebuilder partnership for affordable rent and Shared Ownership homes in Newick, East Sussex.
• Living SpaceminorStrategic or Co-development PartnerPartnered to provide 32 new affordable homes in Cradley, Herefordshire alongside 19 market sale homes.
• We Are DigitalminorStrategic or Co-development PartnerPartnership to help customers improve online skills through digital and employability skills training.
• National Housing Federation Sustainability Strategy GroupcoreStrategic or Co-development PartnerStonewater CEO Nicholas Harris serves as Vice-Chair, steering sector's response to sustainability and climate change challenges.
• Greenoak Centre of Excellence PartnerscoreStrategic or Co-development PartnerCollaborative thought leadership initiative inviting discussion on strategic and technical issues with partners, stakeholders, and other housing associations for achieving zero-carbon future.

Scale indicators10 records

Recent moves8 records

Expansion highlights8 records

Direct peers

• Peabody: One of the UK's largest housing associations, managing around 106,000 homes across London and the South East. Directly comparable to Stonewater in business model (charitable registered provider, social rent and shared ownership), customer base (low-to-middle-income tenants) and geographic footprint (southern England).
• Clarion Housing: The UK's largest housing association with approximately 125,000 homes. Operates an identical charitable-registered-provider model to Stonewater, with a shared-ownership and social-rent portfolio across central and southern England and a comparable sustainability/retrofit agenda.
• L&Q: Major UK housing association and residential developer with around 110,000 homes. Closely comparable to Stonewater in operating model (charitable status, social rent and shared ownership, southern England concentration) and in pursuit of development-led growth.
• Notting Hill Genesis: Large London-headquartered housing association managing around 66,000 homes. Comparable to Stonewater in customer base (affordable housing seekers), product mix (social rent, shared ownership, supported housing) and focus on sustainability-led retrofit of existing stock.
• Hyde: UK housing association managing more than 57,000 homes, predominantly in central and southern England. Directly comparable to Stonewater in geographic footprint, social-rent and shared-ownership offering, and ambition around energy-efficient new-build.
• Guinness Partnership: National housing association with around 65,000 homes and a similar charitable registered-provider structure. Comparable to Stonewater in product mix (general needs, retirement and supported living) and customer segments (older people, vulnerable adults).
• Orbit Group: Housing association managing around 45,000 homes across central England and the Midlands. Comparable in scale, geographic proximity to Stonewater's central/southern England footprint, and mix of social rent, shared ownership and supported housing.
• Sanctuary Housing: UK housing association with over 100,000 customers and a similar charitable registered-provider business model. Comparable in customer base, supported-living provision and pursuit of energy-efficiency programmes across a large existing stock.
• Home Group: Large UK housing association managing around 55,000 homes with a strong supported-living and mental-health housing offer. Comparable to Stonewater in charitable-provider structure and specialist-housing customer segments.
• Places for London (formerly Family Mosaic): Housing association operating across London with a development-led affordable housing pipeline. Comparable to Stonewater in shared ownership and social rent focus, though concentrated in London rather than central/southern England more broadly.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCu9NIZnVuTuQ99NpuOUjicw
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• LinkedInuk.linkedin.com/company/stonewater
• Instagraminstagram.com/stonewateruk
• Xx.com/StonewaterUK

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stonewater