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Wednesday, December 11, 2019

Stewart Milne grows in North-west England after doubling sales

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Stewart Milne Homes is targeting further growth in the North West of England, after a buoyant end to 2017 and encouraging start to 2018.

The Aberdeen-based firm, which established its English operation in Manchester in 2006, has doubled sales in the region in the last 12 months and increased its workforce south of the border from 65 to 85.

nNew home completions in its North West-England developments increase from 134 to 268 with a combined sales value of more than £60 million. This growth was recognised recently when Stewart Milne North West picked up the award for Housebuilder of the Year at Insider’s Property Awards. This recognised the exceptional sales growth and levels of customer service.

To cement this growth and meet demand, the company plans to grow the division to 500 units over the next three years. It is already eyeing an 11% growth to over 300 units next financial year and has reported more than £20million of forward sales reserved beyond the next quarter.

Stewart Milne Homes has invested heavily in the North West this year in order to meet its ambitious growth targets. This includes plans for five new developments over the next 12 months, resulting in the construction of 447 new homes.

Glenn Allison, chief executive of Stewart Milne Group, said: “The North West of England is a key growth area for us and we will continue to invest heavily in the region to cement these impressive sales figures.

“The figures reflect an increased market demand for our quality homes and underline the strength of the housing market in North-west England. We have a strong product underpinned by quality, craftsmanship and very high design specifications – all of which have helped us to gain traction in the market and provide a strong platform for growth.

With the downturn in the North-east, Stewart Milne Group has been accelerating its growth in Central Scotland and North West England through increased investment in new sites.

Mr Allison added: “Over the next 12 months we will work to further increase our volume output through the acquisition of larger sites in prime residential locations in the North-west of England.

Our trading reflects strong underlying performance which allows us to react to different market conditions in each of our geographical areas. By increasing the number of active developments where the housing market is strongest, we are on track to deliver our long-term growth ambitions.

“In common with all house-builders in the North-east, we have faced a very difficult period in our local market where the downturn, fuelled by the sharp drop in oil price, has had a major impact on consumer confidence. This is however starting to improve with sales rates gradually picking up.”

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