As the year draws to an end our land promotion portfolio is at a record high, with over 64 sites, 2,063 acres and 12,051 plots. Here are some of our highlights:
- Planning consent granted or resolved to grant on 433 dwellings across 4 sites. In addition consent has been restored for 400 dwellings following a successful Court of Appeal decision.
- Land for 1,640 dwellings has been allocated, or are emerging allocations in Local Plans.
- Of the 12,051 dwellings identified 735 are at Myton Green, Warwick. An outline planning application has been submitted for 640 dwellings at Kenilworth, a site allocated in the adopted Warwick District Local Plan.
- Disposals of 5 sites have totalled 102.72 acres and 714 new homes to Bellway Homes, Cala Homes, David Wilson, Optivo, Avant Homes and Miller Homes (both at Myton Green), with a total gross land value of £61.5 million.
- The average price per square foot of dwellings for private sales by our customers is £340 reflecting the focus on areas of high demand. This leads to a focus on the South Midlands, South, South East and East of England. Catesby continues to be alive to opportunities elsewhere where the minimum financial return criteria are met.
- The sale of 918 dwellings across 3 sites has been delayed by the decision of third parties to judicially review the planning consents received.
- Rebranding to Catesby Estates and development of in-house marketing resources has resulted in increased brand awareness and enquiries direct from landowners. This has been complimented with early engagement with local councillors, residents and neighbourhood plan groups within the planning process, to ensure stakeholders view potential development as a positive way of enhancing their community.
Looking forward to 2019
- We will continue to target sites with high returns on capital invested with a focus on larger sites in areas of high housing need, which meet minimum price per square foot criteria.
- Evolve planning strategy to promote sites through the Local Plan process, gaining allocation and therefore minimising planning risk where possible.
- Continued growth in the in-house land team resources, to ensure increased supply of land development opportunities to meet the wider strategic business objectives.
- Seek partnerships for infrastructure delivery and maximisation of land value.