Countryside to expand Partnerships arm in Midlands

Aaron Morby 8 years ago
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House builder Countryside Properties is riding high on the back of strong demand at its partnerships business with plans to open a new office in the Midlands.

Ian Sutcliffe says Countryside is on track to achieve our medium-term targets of over 3,600 completions per year
Ian Sutcliffe says Countryside is on track to achieve our medium-term targets of over 3,600 completions per year

In its first trading statement since its flotation last February, Countryside boss Ian Sutcliffe said the partnership division had secured preferred bidder status on eight more sites and saw a strong pipeline of work ahead.

These include: Beam Park, Dagenham (2,781 plots); Rochester Riverside, Kent (1,262 plots): and Hounslow School, London (284 units). 

The deals mean partnerships has 7,727 plots in the land bank with an extra 6,338 plots awarded as preferred bidder.

He said: “Our future bid pipeline continues to grow and now stands at over 30,000 potential plots as we see a growing appetite from the public sector to regenerate their assets.

“We have identified an opportunity to expand the partnerships division into the West Midlands with demand from an existing partner and plan to open a regional office there by the end of the year.”

Partnerships division completions in the first half were up 12.2% at 803 homes with average selling price up up 41.9% to £298,000, due to the improved sales mix, price growth and a greater proportion of completions in the South.

He said: “Demand for our products at lower price points has remained robust, particularly in London, where the introduction of 40% Equity Share Help to Buy scheme has further increased demand.

Countryside house building division also performed well with total completions up a quarter at 292 homes in the first half.

 

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