Business & Economy
Gentoo drives ahead with new sites following strong year of sales and growth
April 24, 2019
North East housing developer, Gentoo Homes, is targeting further success after it exceeded its surplus target for 2018/19 and achieved a 4 star NHBC customer satisfaction score.
The developer, which is the commercial house building arm of Gentoo Group, exceeded its surplus target following the sale of 199 homes across the North East, returning in the region of £4m back to its parent company that can now be reinvested in the Group’s affordablehousing provision in Sunderland.
Strong sales have been experienced throughout the region with particular success at its hugely popular Cottier Grange development in the heart of the Tyne Valley, the first phase of which sold out well ahead of programme.
Gentoo recently launched its highly anticipated new show home on its premium Lanchester Rise development in County Durham, which is to be followed by its new Sandpiper View scheme in East Boldon, for which it has already received an unprecedented 800+ expressions of interest on its 18 properties.
The company is also pressing ahead with exciting plans to build more than 600 new homes across the region over the next few years, of which 326 have planning permission, including the first phase of properties at its new flagship Chester Gate site at the gateway into Sunderland, as well as exciting schemes on the horizon in Chapel Park, Doxford Park and Marsden.
This follows Gentoo’s recent reappointment to Newcastle City Council’s Developer Framework earlier this year, which will see the company continue to help deliver much needed, high quality new housing across Newcastle.
Anthony Lowther, managing director at Gentoo Homes, said: “We’re extremely delighted with yet another strong year of sales, but more importantly a strong year of positive customer feedback on the homes we are delivering for people acrossthe North East. I’m really proud of the homes we build and the team we have in place here at Gentoo Homes – well done to everyone for contributing to another highly successful year.”
Nigel Wilson, chief executive officer at parent company, Gentoo Group, said: “Gentoo Homes is a great success story and continues to play a really important role in delivering a wide variety of new homes for the people of the North East, whilst delivering an invaluable surplus back to Gentoo Group, so we can continue to deliver on our social purpose and help local people through the provision of affordable housing and additionalsupport services in Sunderland.”