News Archive

ST. MODWEN HOMES CELEBRATES SUCCESSFUL FIRST YEAR OF TRADING

St. Modwen Homes – the residential arm of the UK’s leading regeneration specialist St. Modwen – is celebrating a successful first year of trading following strong sales in 2012.

In its first year, St. Modwen Homes achieved 175 house sale completions and had a further 23 properties reserved or under contract. Outperforming other national housebuilders, St. Modwen Homes’ net private reservations per active site per week for the full year were 1.12.

St. Modwen Homes’ selling prices range from £125,000 to £350,000 with a mixture of two, three, four and five bedroom houses and one and two bedroom apartments delivered at its three live sites – Park View in Longbridge, award-winning Locking Parklands in Weston-super-Mare and Wembley Central near London.

Guy Gusterson, managing director at St. Modwen Homes said: “Our residential business is moving from strength to strength, with good sales rates experienced at all three of our live sites. We have performed above expectations in our first year and are now looking ahead to the next twelve months and the continuing growth of the St. Modwen Homes portfolio.

“We are committed to building individually designed, high-quality homes in the UK and want to appeal to people on all levels of the property ladder. To help achieve this, we have launched various purchaser schemes including our assisted move scheme and our equity loan initiative, FirstStep, which allows people to purchase a new home at just 75 per cent of the property’s price and with a deposit of five per cent.

“Our aim has been to develop a local housebuilder mentality, and by building no more than 250 homes a year across the UK we are able to focus on the detail and provide a more personalised service to our customers. We work closely with our architects to create distinctive, cleverly designed homes set along attractive streetscapes, with the majority of homes exceeding new build energy performance requirements.”

St. Modwen Homes was formed in 2011 as a division of St. Modwen Properties Plc. allowing the company to gain additional value from its significant residential land bank of over 25,000 units. Due to the success of the schemes over the last 12 months, planning has been submitted for new phases at each existing site and for four further developments across the UK. In the past month, planning has been granted for three of these sites, the most recent being 19 private units in Longbridge, Birmingham.

Guy continues: “As the housing arm of the UK’s leading regeneration specialist, many of our homes are built on mixed use developments resulting in new homeowners benefitting from brand new community facilities, shops and other amenities. It’s no wonder the reaction to our homes has been so positive and this year we look forward to continuing to build desirable homes in the best locations.”

St. Modwen Homes is currently building in Birmingham, Weston-super-Mare, Dursley (Gloucestershire) and Wembley. Sites expected to start in 2013 are located in Ravenstone (Leicestershire), Rugby (Warwickshire) and Worcester. For further information on the company or any of its developments visit www.stmodwenhomes.co.uk