A DONCASTER based developer says it is showing its returning confidence in the property sector by announcing that it is to start construction work on 20 new developments in Yorkshire and Lincolnshire over the next 12 months.
The announcement comes as Keepmoat, based at Lakeside, reports a record year in 2010/11, with turnover reaching £48 million. Profits are expected to be in line with full year expectations.
The 1,220 home completions by the business during Keepmoat Homes’ financial year to March 31 is the highest in the history of the developer, representing an 80 per cent increase on the previous year.
Keepmoat has also secured land for an additional 3,400 new homes. Offering a mix of private sale and affordable housing for rent and shared ownership, the company’s new sites will be built in Leeds, Bradford, Barnsley, Sheffield, Hull, Chesterfield and Lincoln.
The company said that despite the much-publicised public sector cuts, much of its growth had come through partnership and regeneration work with local authorities, housing associations and other affordable housing providers.
David Ward, regional managing director at Keepmoat Homes, said: “The housing sector continues to face significant challenges and our success is testament to a lot of hard work by everyone at Keepmoat Homes.
“It demonstrates that we are building the right product for the right price.”
David Carmichael, regional partnership and land director at Keepmoat Homes, said: “Despite the recession we have been able to continue to expand. Our partnership work with local authorities and registered social landlords over the last few years has paid dividends, enabling us to retain many of our highly skilled staff through the recession.
“Now the company’s current ambitious and successful land acquisition strategy is creating new employment and training opportunities for many more people.”
Keepmoat’s announcement comes as the UK economy returned to modest growth in the first three months of 2011. Official figures revealed it grew 0.5 per cent following a shock decline at the end of last year.