Social and cost rental progress
At the Oaklee AGM held on 9 October 2025, the Oaklee Annual Report was presented for the year 2024/25. The year represented the second year of Oaklee’s three-year strategic plan, with key strategic objectives, including the key priority which is the delivery of more homes.
The year began with a strong development pipeline of over 200 homes in contract and finished the year with 359 new homes delivered, which included 205 social homes and 154 cost rental homes with a total new homes investment spend of €158 million. Oaklee strengthened its relationships with a number of strong counterparties, and acknowledged the continued support from our local authority and government partners.
In the year, improvements in customer services continued with a call answer rate of 98 per cent for the services centre. With many new homes coming into management throughout the year by the end of March 2025, and the end of our financial year, the Housing Team had allocated a total of 190 homes. The team hit their targets for reducing rent arrears and relet times, proudly achieving all-time lows in Oaklee.
There was an investment of €5.5 million in the maintenance and upgrading of homes, with a range of planned works, including fire safety works, lift replacements, retrofitting works and kitchen replacements. The team worked tirelessly to ensure that health and safety property compliance performance remained consistently high at 98 per cent. This is in addition to managing the high level of contractor performance for response repairs and repairs satisfaction rates.
Oaklee’s Tenant Conference was held in September 2024 at which 20 residents were presented with Community Spirit Awards in recognition of their dedication and efforts in fostering community engagement and improvements in their estates and neighbourhoods around the country. Biodiversity initiatives were a distinct theme, which will be built on in the coming years as part of Oaklee’s updated Sustainability Strategy which was also completed in the year.
As the Oaklee organisation grew so did the Oaklee workforce, with an additional 10 colleagues, increasing the team to 64 by the end of the year. The corporate services team was established, bringing together colleagues from IT, communications, and people and culture under one senior lead person. They, along with our development colleagues helped establish Oaklee’s new headquarters in Dublin’s Heuston South Quarter. Having outgrown the old office, this new space with lots of collaborative spaces for teams, boards and committees has brought comfort and a new energy to the team.
Meeting regulatory requirements, ensuring continued good governance and strong financial management is critically important to the Oaklee Board. Throughout the year they completed an Independent Board Effectiveness Review and Skills Audit, the outcome of which is assisting with board succession, and strengthening the committed group of people involved in a voluntary capacity on Oaklee’s Boards and Committees. The work of committees – Audit and Risk, Housing Delivery, Housing Services, and Governance, Nominations and Remuneration – and their contribution was praised in relation to their contribution to the development and ongoing performance of Oaklee.
The Chair at the AGM thanked all his colleagues for their valuable and dedicated contributions. He emphasised the importance of the work in creating great homes and communities where people live, thrive and prosper. He reiterated their commitment to continuing to deliver quality homes and excellent services to Oaklee residents both now and in the future.
Growth, impact, and community
As Oaklee enters the final stretch of its three-year strategic plan, the year 2024-25 stands out as a testament to progress, purpose, and partnership. With the delivery of new homes remaining our top priority, this year marked a significant milestone: 359 new homes completed, including 205 social homes and 154 cost rental homes, representing a total investment of €158 million.
This achievement was underpinned by a robust development pipeline and strengthened relationships with trusted partners. Our collaboration with local authorities and government stakeholders continues to be a cornerstone of our success, enabling us to deliver high-quality housing solutions across the country.
Putting people first
Customer service remained a key focus, with our service centre maintaining an impressive 98 per cent call answer rate. As new homes came into management, our Housing Team rose to the challenge, allocating 190 homes by the end of March 2025. Their efforts also led to record-breaking performance in reducing rent arrears and relet times, setting new benchmarks for Oaklee.
We invested €5.5 million in maintaining and upgrading our housing stock, with planned works including fire safety enhancements, lift replacements, retrofitting, and kitchen upgrades. Our commitment to health and safety remained unwavering, with property compliance performance holding steady at 98 per cent.
Community and sustainability
September 2024 saw the launch of our first Oaklee Tenant Conference, a landmark event that brought residents together to share ideas, celebrate achievements, and strengthen community ties. A highlight of the day was the presentation of 20 Community Spirit Awards, recognising residents who have gone above and beyond to foster engagement and improve their neighbourhoods.
Biodiversity and sustainability emerged as key themes throughout the year, culminating in the completion of our updated Sustainability Strategy. These initiatives reflect our growing commitment to environmental stewardship and community wellbeing.
Growing together
As Oaklee grows, so does our team. We welcomed 10 new colleagues, bringing our total workforce to 64. The formation of the corporate services team, uniting IT, communications, and people and culture, marked a strategic step forward, enhancing collaboration and operational efficiency.
Our move to a new headquarters in Dublin’s Heuston South Quarter has brought fresh energy to the organisation. Designed with collaboration in mind, the space supports our teams, Boards, and Committees in delivering on our mission.
Governance and financial stewardship remain central to our work. This year, we completed an Independent Board Effectiveness Review and Skills Audit, supporting succession planning and strengthening our governance structures. We also welcomed Maurice Leonard and Brian Bowden to our Board, following the retirement of Tom Mackey, Aiden Devlin, and Deirdre Owens, whose contributions have been deeply valued.
A strong financial footing
Our subsidiary, Acorn, continued to perform strongly, contributing €5 million to Oaklee Group’s turnover of €28 million, and delivering a net surplus of €1.7 million.
As we reflect on another successful year, we extend heartfelt thanks to our dedicated colleagues, Board members, and Committee volunteers. Their commitment ensures that Oaklee continues to deliver quality homes and excellent services, making a lasting impact on communities across Ireland.
With momentum building and our vision clear, we look forward to the final year of our strategic plan and to continuing our journey of growth, innovation, and service.
W: www.oaklee.ie
