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Countryside Schedules Nine Years of Work

UK House-builder, Countryside Properties has seen a high increase in activity over the previous six months, due to the acquisition of Westleigh in April 2018 and the new timber frame factory that is currently in process.

On the 31st of March 2019, Countryside marked their total completions of the previous six months up by 43% to 2,363 homes. Without considering the impact of the Westleigh acquisition, the completions were up 8% to 1,788. 

The full production of Countryside’s modular timber frame factory in Warrington began in March and is on schedule to deliver around 500 homes this financial year, with a production capacity of up to 1,500 homes per year. 

The past six months has seen an increase in the company’s Partnership’s sector, showing a 61% growth in completions to 1,889 homes (12% excluding the impact of the acquisition of Westleigh). 

In addition to this, 9,893 plots were secured during the half-year, including 2,170 homes at the Cambridge Road Estate in Kingston-upon-Thames and around 3,000 homes in the Midlands and Yorkshire areas.  

Countryside has now reached a figure of 36,132 plots secured with Partnership (H1 2018: 21,698), representing over nine years of future work at the current volumes. 

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Chief executive Ian Sutcliffe stated: "Despite the wider political and macroeconomic uncertainty, demand for mixed-tenure homes remains strong and we have enjoyed a robust spring selling season. With our modular timber frame factory now operational, we continue to be well positioned to deliver on our geographic expansion. With excellent visibility of future work, we remain confident of delivering our medium-term growth plans." 

However, Rebecca Worthington, the group chief operating office, has since resigned from the company after joining in 2015 as chief financial officer and seeing the company through its primary public offering and the stock market listing back in 2016. 

Chairman David Howell: "Becky has made an outstanding contribution to the business over the past four years.  She has been an excellent colleague and board member during that time. On behalf of the board, I would like to thank her for everything she has done and wish her well for the future." 

Despite the company’s recent changes and the ongoing political uncertainty surrounding the industry, Countryside is thriving, with an impressively structured schedule for the upcoming nine years. 

Specialists in Construction Insurance

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