Housebuilder Breaks Through £1 Billion Turnover
If you are involved in property development then you will be interested to read that Redrow PLC, a large building firm, has, for the first time, achieved record sales of over £1 billion. For the year to June 2015, its turnover was £1.15 billion and it made a net profit of £204 million with the later representing a 53% increase on the previous year.
Its improvement in sales was assisted by the Help to Buy Government scheme. It completed on just over 4,000 houses in the above period with this being a 12% rise on the previous year. The builder’s future looks positive with a 13% increase in its order book.
Redrow has been established for many years but if you are considering entering the property development industry for the first time then you may well be looking for development finance to assist in your project. It does not matter if you are considering buying and renovating an old, dilapidated property, wishing to purchase a plot of building land in an exclusive area to construct an executive 6 bedroomed detached residence or buy several acres of land and build a dozen properties of varying styles and sizes there are many providers of development loans.
With so much choice it is important that you obtain the most competitive development finance deal possible. In that respect, you will be pleased to hear that Commercial Mortgage Link can help you achieve this. We provide you with access to a specialist in sourcing and arranging development finance. He or she has an extensive panel of lenders to choose from and can assist in putting together a suitable business plan for submission to a potential lender to give you every opportunity of being able to obtain the funding you require. Who knows, one day you may well grow to the size of Redrow and be constructing thousands of homes each year.