{"id":671,"date":"2018-11-21T09:43:19","date_gmt":"2018-11-21T09:43:19","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=671"},"modified":"2018-11-21T09:43:19","modified_gmt":"2018-11-21T09:43:19","slug":"countryside-revenue-tops-1bn-as-completions-soar","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/countryside-revenue-tops-1bn-as-completions-soar\/","title":{"rendered":"Countryside revenue tops \u00a31bn as completions soar"},"content":{"rendered":"

Essex-based Countryside Properties expects average home build times to be slashed from 14 weeks to 10 weeks when its new closed-panel timber frame factory in Warrington gets into full swing early next year.<\/p>\n

The private house building and partnership homes business revealed the factory would provide up to 1,500 units a year as it reported a 27% jump in completions to nearly\u00a04,300 homes in the year to September.<\/p>\n

This strong uplift in volumes, mainly at the partnerships arm, saw revenue jump 20% to \u00a31.23bn, driving pre-tax profit up 22% to \u00a3181m.<\/p>\n

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Ian Sutcliffe, g<\/span>roup chief executive, said: “<\/span>During 2018, we were able to use our own cash to make two important investments to accelerate our future growth – the purchase of Westleigh in April 2018 and the development of an offsite modular build factory, which will come on stream in 2019.<\/p>\n

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Countryside Properties 129,000 sq ft offsite factory will open at Warrington\u2019s Gemini Business Park<\/p>\n<\/div>\n

“The mixed-tenure model reduces our exposure to the private housing market which we expect will represent around one third of delivery in 2019. In addition, forward-funding of affordable and PRS homes helps to reduce our balance sheet risk while accelerating growth in sectors of high demand.”<\/span><\/p>\n

For some years,\u00a0Countryside\u00a0has used an open-panel timber frame system in our Northern and Midlands regions to produce standard components offsite for around 40 per cent of our output.<\/p>\n

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From 2019, the new \u00a36m facility in Warrington will take this further, producing more complete, wall and flooring systems with first-fix plumbing and electrical channels installed, windows in place and insulation sealed into the unit.<\/p>\n

Sutcliffe\u00a0said: “The new facility will ultimately produce around 1,500 units per year to serve the Partnerships division across the Midlands and the North West.<\/p>\n

“We anticipate that this approach will allow us to take a building from foundations to completed property in around ten weeks from the current 12 to 14 weeks, increasing the number of homes our sites can deliver in a year.<\/p>\n

“As well as significantly improving our operational efficiency, there are a number of other benefits including protection from site labour shortages, reduced waste and improved quality control.”<\/p>\n

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from Construction Enquirer https:\/\/ift.tt\/2DTmZJw<\/p>\n","protected":false},"excerpt":{"rendered":"

Essex-based Countryside Properties expects average home build times to be slashed from 14 weeks to 10 weeks when its new closed-panel timber frame factory in Warrington gets into full swing early next year. The private house building and partnership homes business revealed the factory would provide up to 1,500 units a year as it reported […]<\/p>\n","protected":false},"author":1,"featured_media":155,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=671"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/671\/revisions"}],"predecessor-version":[{"id":672,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/671\/revisions\/672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/150"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}