Housebuilder Bellway is planning to build on the success it has had in Scotland by acquiring more land over the next 12 months…
More than 100 acres of land will be added to Bellway’s portfolio over the next 12 months, it has emerged. The new acquisition of land will enable the firm to create around 1,250 new homes.
The housebuilding firm said it had seen significant success in Scotland and was hoping to continue to build upon this over the next year. The Newcastle-based company is set to see a record year, with figures for the financial year that ended in July showing a major contribution from projects in Scotland. Land Director Willie McDermott said the firm “easily” surpassed budget projections.
He said: “Our performance in Scotland has been pretty strong. Our chief executive [Ted Ayres] was up visiting in August, and he and the board were very pleased with the progress we have made during the last 18 months.”
Bellway hopes to extend the Heartlands regeneration project in West Lothian. This site has seen more than 30 of its 88 plots already sold. The extension of this project will at least double the number of homes there.
Another site located seven miles from Edinburgh, Winchburgh Villages, has sold a quarter of its 100 plots during the past year. This, McDermott said, was a “sound performance” given the competition from other major building firms in the area. The £1bn development will comprise of 3,450 new homes, creating a town larger than St Andrews.
McDermott said: “There are a lot of potential sites available and even more secondary locations, but our strategy remains to concentrate on the places that have a strong local community, good access to quality schooling, transport connectivity and a robust local sales market.”