Strong forward order book at Gleeson Homes

Gleeson Homes has unveiled a strong forward order book as Help to Buy bouys sales

Houses built by Gleeson Homes
Houses built by Gleeson Homes

Housebuilding business Gleeson homes said it has continued to perform well in the first quarter of 2014.

The urban regeneration and strategic land specialist, which has its North East homes division in Chester-le-Street, County Durham, has released its interim management statement, covering the period from January 1 to March 31 2014.

The firm said reservations taken in the period are significantly higher than the prior period and it currently has 37 active sites, compared with 29 in the corresponding period last year.

The board expects to record more than 540 completions in the year to 30 June 2014, a 33% increase on the 406 units completed in the prior year.

Total sales to date are up 63% on last year, meaning the group will enter the next financial year with a strong forward order book, and it is also in active discussions regarding the acquisition of a further 10 sites which, if purchased, will add 1,300 plots to the regeneration land pipeline, taking the total number of plots to in excess of 6,100.

The Government’s Help to Buy initiative continues to be a popular scheme for our customers, with 31% of the completions in the year taking advantage of the scheme.

The management statement added: “The board is encouraged by the achievements of both Gleeson Homes and Gleeson Strategic Land and remains confident that there will be further substantial improvements in the group’s trading performance in both the current year and beyond.

“Although planning delays have created some uncertainty the group’s profit for the full year is expected to be in line with, or possibly better than, current market expectations.”

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