July 4, 2019 @ 10:45 by Steven Hugill
A housebuilder with a growing North East presence says it remains on course to meet a target of doubling annual new home volumes to 2000 following a record performance.
MJ Gleeson says its success of turning low-cost land into affordable housing means its hopes of achieving the goal by 2022 are well within its grasp.
The business, which has offices in Ashington, Gateshead and Teesside’s Wynyard Park, has benefited from strong demand for its properties, with its Gleeson Homes division delivering its largest annual volume growth in the year to June 30.
According to a trading update released today (Thursday, July 4), Gleeson Homes sold 1529 properties during the year, which represented a 25 per cent rise on the previous year’s 1225.
Furthermore, the division, which has developments in Blyth, Sunderland, Middlesbrough and Ferryhill, County Durham, increased its pipeline of owned and conditionally purchased plots by 5.6 per cent to 13,575.
Additionally, the business’ Gleeson Strategic Land operation sold nine land interests with the potential to deliver 1755 plots for housing development during the year.
Bosses added it has a further nine sites, with planning permission or resolution to grant, which have the potential to deliver 2929 plots for housing.
James Thomson, interim chief executive, said: “Gleeson Homes’ unique model of acquiring land at low-cost and building homes for sale to people predominantly on low incomes continues to deliver sustainable growth as we progress towards our target of doubling volumes to 2000 new homes per year by 2022.
“Both Gleeson Homes and Gleeson Strategic Land have delivered a record performance with the group’s positive outlook underpinned by continued strong demand.”