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Repeat business secret to our growth

Earlier this week V10 was exclusively approached by a landowner to collaborate on a new project. This would be our third deal with them. But why did they come back?

The Holy Grail of Repeat Business

Any business school will teach its students the importance of achieving repeat business with its clients and partners. Why? Repeat customers will do more business with you, they are easier to deal with, they will promote your business and this means the business needs to use less effort to find new customers. Customer and partner retention is a key benchmark by which any business should measure itself. So, having been approached again to collaborate on a new project this week we reviewed our repeat business credentials and found that 78% of all our projects were agreed with partners on more than one occasion. So, what do our customers, suppliers and partners think of V10?


Most people these days will review a product or service by casting an eye over that company’s latest Google reviews after an internet search. The problem is V10 doesn’t have any! However, we do have professional testimonials and have a full page on our website dedicated to this – link here. Some of the extracted comments are below:

  • The crucial aspect of dealing with V10 for me is the certainty I have experienced in them performing on the terms we have agreed
  • As land promoters we are well versed with the trials and tribulations of selling sites with multiple owners. On our dealings with V10, however, these problems virtually vanished
  • V10 have expertise in unlocking sites with high abnormal costs and finding innovative solutions to sites with problems in the ground
  • They are professional, responsive, experienced, and trustworthy
  • We have always the V10 team to be straight talking, professional and friendly with a tenacity to get the deal done.


V10’s Approach

At the heart of all of V10’s business dealings there are some key principles with corresponding actions that the team adheres to. Karl Timberlake, Land & Operations Director explains.

“Trust is the key principle. Trust that what we say is true. Trust that what we say we’ll do, we’ll do. Trust in that we know what is important to a land seller or contractor or registered provider and that we’ll always seek to find a win-win solution. We value medium and long terms relationships over short term commercial expediency. We adhere strongly to the three C’s; collaboration, communication and credibility. Clearly actioning these principles has ensured that V10 has achieved repeat business – which is the key to our success. This will hopefully lead to another phone call inviting us into the next deal next week!”

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V10 resets its sustainability journey

At the very moment V10 is releasing this news post, the main news is that the UK is experiencing the most extreme weather ever and temperatures have just exceeded 40 degrees for the first time.

The planet is sending humanity a message. That message is clear; reduce greenhouse gas emissions or face even more extreme weather events and its devastating consequences.

Net zero

The path to net-zero is a colossal single species endeavour that many of the world’s population are embarked upon. Every industry sector is addressing it. Every company or organisation is assessing its policies, its products and its services – each with the intention of contributing to net zero and adopting a more sustainable approach. V10 is no exception.

Sustainability benchmarks

To ensure that our future developments are increasingly sustainable, V10 has devised its own ‘sustainability benchmarks’ which are based on three pillars; environmental, social and economic, with each pillar having 10x specific measurements. Each of our developments will attract a % sustainability rating and we have applied this test to all our currently live projects to create our starting point.

Sustainability pledges

Having rated our live developments, V10’s management team considered where the company and team could make a further contribution to improving the sustainability ratings of our future developments. There were many options but the team decided to adopt three pledges:

  1. Increase the use of MMC in our supply chain
  2. Increase the delivery of net bio-diversity
  3. Increase the delivery of affordable homes above s106 requirements

Karl Timberlake, V10’s Land and Operations Director commented

“We introduced our sustainability benchmarks to enable us to measure and strive for better sustainable outputs in the future. It has made us conscious of where we can deliver positive change by focusing day in, day out on our three pledges.

Heatwaves, drought, famine, migration, woodland fires and extreme weather are all coming down the line faster than we would want. So V10 will do it’s best to play a part in arresting this trend with its re-focussed efforts”

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Confidence from the CIH conference, and the advantage of a package deal

In June, we made our annual trip to Manchester for the CIH conference. For me, it meant a short burst up the M56 in the car from home rather than the weekly 6:03am from Crewe into London.

I like the CIH at Manchester. It’s a chance to reconnect with our Northern roots, check out the changing face of the city (and its latest watering holes), as well as the chance to mix with those RPs and contractors located outside of London with wider regional programmes.

It was a reminder that those organisations are committed as ever with significant appetite to deliver affordable housing in what are challenging times for the sector. With a backdrop of increasing build costs, competition for land and dissipating supply, it also reaffirms the importance of land-led development to many RPs to assist with that delivery.

Indeed, of the 1,055 units currently live/on site being delivered through V10, over 700 are outside of London.

Unlocking the land

As a company we have always been fortunate to have an ongoing supply of land, formed through longstanding relationships with landowners, promoters and developers.

That said, in these times of a restricted number of consents coming through the planning system, V10 successfully acquired a site ‘on market’ in late November last year with Stonewater for 87 units in Huntingdonshire for a 100% affordable scheme. This is a path we continue to be successful with, competing in the market partnering with RP’s to acquire sites for development.

There is over 60 years of collective expertise in buying land and delivering a fully designed scheme tailored to specific requirements in the team!

Like all development companies, land remains the lifeblood of our business and we continue to invest great time, energy and resource into identifying potential land opportunities that are suitable for delivery into the affordable housing sector.

Build Cost & Viability

We work with some great contracting partners, who are established in the sector with whom we have forged close relationships with over time. This has never been so important to us as a business.

With cost inflation being experienced by all in the sector, we work hard with our contractors to understand the sites that we assess and put forward, identifying the key risk items and identifying their solutions at an early stage of engagement with an RP.

Working transparently to demonstrate the best route to tackle ground conditions and abnormal costs, the effect of planning and section 106 to programme and getting the site delivered.

We undertake extensive sales research with data and the qualitative research from local agents and housebuilders to assess the market dynamics local to the scheme, and the affect that might have on the absorption of different tenures.

By doing all of this we aim to assist our RP to assess the site quickly and enable us to move swiftly on schemes that have potential.

You can’t beat Face to Face

As I noted from one senior RP development director, the importance of meeting friends and colleagues was perfectly demonstrated at this year’s CIH conference.

“Zoom and Teams have their new place in our lives but sharing a story and a smile (maybe a coffee or something stronger) in person cannot be replaced.”

That is how relationships are formed, and through collaboration and partnering, they will continue to be the key to enabling the delivery of much needed affordable housing in these uncertain times.

If you would like to find out more about V10 and how we partner with housing associations to deliver land and build package deals, please get in touch.

Written by Simon Kight, Acquisitions and Partnerships Director, V10 Homes