Growth across the board at Gentoo Homes
The company, which is the residential development arm of Gentoo Group, delivered 233 new homes across the North East and has reported an increased turnover of £44 million, with an operating profit of 10% on its regional sales programme.
Of the 233 new homes delivered, 164 were built for sale and a further 64 homes of affordable tenure were completed.
This success reflects the buoyant mood at Gentoo Homes who also successfully delivered 452 plots through the planning systems during 2016/17.
Across the region, Gentoo currently has eleven live sites where construction work is taking place and they are reporting high levels of interest across all developments.
The most recent schemes to have received planning permission, providing a total of 312 homes are located at Coaley Lane in Houghton-le-Spring, High Usworth in Washington and Broomhill in Hetton-le-Hole.
Colin Wood, managing director of Gentoo Homes, said: “I’m immensely proud of our staff and what they have achieved over the past year. We build high quality, spacious homes in desirable locations across the North East and based on consumer demand the business is on track to increase property sales by 25% in the coming financial year.”
“We have an exciting forward programme for 2017 and 2018, with a number of show homes launching this month at Orwell Grange in Carlton Village, Stockton-On-Tees, Foxdale in Guisborough and St Bartholomews in Benton, Newcastle. In May we’ll also be launching our new 404 home flagship development at Cottier Grange in the Tyne Valley – which everyone is hugely excited about. All in all I’m delighted with the progress we have made over the last 18 months and feel we are really meeting the diverse housing needs of the North East.”
In addition to this, Gentoo Homes is currently building new homes in a number of other desirable locations across the region, including at Hedley Meadows in Wylam, Landsdowne Terrace in Gosforth, Thurcroft in Doxford Park, Hart Village in Hartlepool, Calderstone in Fenham and Meadow View in Houghton-Le-Spring.
Gentoo Homes recently appointed well known and respected housing figure, Colin Blakey, as its Chair. Colin was formerly the Director of Affordable Housing at Bellway and Chair of the Bellway Housing Trust. Until 2015 he was Chief Executive of Asset Housing Association and prior to that he was Executive Director and subsequently Chair of Northern Coalfields Property Company and Northumbria Enterprise (now ARCH).
Published: 20 April 2017