Heylo subsidiary swings into profit despite dip in revenue

Operating costs fell by 30% to £237,000, while administrative expenses rose by 14.5% to £198,000.

In addition, finance costs fell by 15% to £1.2m, which HHSB explained was due to lower Retail Price Index (RPI)-linked interest.

HHSB buys residential properties and leases them to Heylo Housing Registered Provider, a fellow subsidiary, which in turn leases those properties on a shared ownership basis to Heylo Group’s customers. HHSB also leases directly to third-party tenants under its Your Home product.

A spokesperson for Heylo told Inside Housing Living: “Heylo Housing Secured Bond plc is a 100% subsidiary of Heylo Housing Group.

“Heylo is one of the largest for-profit providers of shared ownership in England and is supported by long-dated insurance and pension fund investors.”

HHSB was established in 2018. As of 30 September 2025, the for-profit had acquired 112 new build homes from house builders, down from 122 in 2024, and three homes with its Your Home product, spread across 46 sites, with associated grant received of £2.75m.

In the current year, HHSB has acquired 15 properties and fully disposed of 27 properties.

HHSB has net current assets of £1.5m and net assets of £2.5m as of September 2025. It also had cash at bank and in hand of £800,000, down from £1.7m in 2024.

Andrew Géczy, director of HHSB and chief executive of Heylo, said: “The company continues to achieve strong performance on income collection over the past years despite the economic turmoil that has affected the marketplace in which it operates.”

He continued: “The business can work to manage its existing portfolio and future pipeline that is in place to ensure the company reinvests [in] high-yielding residential properties provided on a part buy, part rent basis.

“The company, as well as ResiManagement Limited [Heylo’s management services provider], continues to strive to improve existing relationships with house builders and create partnerships with new house builders, and enter long-term agreements [where appropriate].”

Heylo Housing ranked third in Inside Housing Living’s survey of the fastest growing for-profit providers of 2025, with 806 new homes completed last year across all its subsidiaries.

The for-profit agreed not to bid for new Homes England grant in 2022, when it was deemed non-compliant for governance and viability by the Regulator of Social Housing (it is currently still non-compliant).

However, it has continued to deploy grant that had already been allocated before the regulator’s ruling, and has also been working with combined authorities that have their own grant funding programmes.