GLA land company has completed 15,135 of 68,000 homes and is late repaying £300m loan

GLA Land and Property is years behind schedule in repaying a £300m loan the Greater London Authority made to it in 2013, the London Assembly's Budget and Performance Committee said before a scrutiny session on 9 July.

The committee's notice states that the Greater London Authority set up the company in 2012, wholly owned, to advance housing and regeneration across London. The company manages about 635 hectares.

The company has a target of 68,000 homes over 25 years. The notice states that at 2024-25 it reported that "29,156 homes had been delivered or were on site since 2016", with 15,135 completed.

Completions are 22% of the 68,000. Spread over the nine years from 2016, they average about 1,680 homes a year.

The notice states that "progress has slowed, and despite a 25-year target, at the current rate of delivery these homes will not be completed this century".

The notice does not say how much of the £300m is outstanding, or when repayment is now due. The GLA's annual accounts page lists audited financial statements for the company for 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19, and none for any year since.

The notice gives no tenure split for the 68,000 homes, so how many are affordable is not on the record.

The Assembly's Housing Committee published its Affordable Housing Monitor the day before, on 8 July. It reported that London needs 45,500 affordable homes a year over the next decade, and that 8,184 net affordable homes were added in 2024-25.

That monitor also recorded 341,421 households on social housing waiting lists in London in March 2025.

The Assembly's schedule for that week lists the Budget and Performance Committee session at 10am on 9 July at City Hall. The committee's notice states that representatives from the Mayor's office and the company would attend to address housing delivery and loan repayment.

The committee has published no report or letter from the session. The Assembly's publications index, checked on 14 August, runs to a Fire Committee letter on wildfires dated 29 July and carries nothing on GLA Land and Property.

The index does list the Budget and Performance Committee's letter to the Mayor on police funding and officer numbers, dated 7 July, two days before the session.