INDEPENDENT homebuilder the Edenstone Group predicts an annual turnover of £80 million by 2020-2021.
The Magor-based business, ranked at number seven in the Fast Growth 50 guide, has achieved record results. Turnover and the number of private sale completions both doubled in the last year.
Operating across South Wales and the South West of England, the company credits diversification for its continued success. During the year, the Group launched its Bluebell Homes brand and the new Ashgrove Partnerships business, which works with registered social landlords and local authorities to deliver affordable housing.
Martin Taylor, managing director of the Edenstone Group, said:
“The year ended April 30, 2019 was hugely successful for the Group, with revenues more than double the previous year. The number of private sale completions also doubled; we achieved sell-out success at several locations, launched new sites and sold our first Zero Carbon home.
“Thanks to the dedication of the multi-disciplined team and a flexible approach, we are continuing to grow at a pace. We are confident that we will achieve an annual turnover of £80 million by 2020-2021 – that’s an increase of £30 million from previous projections.”
As the company continues to target higher-demand, lower risk sectors of the housing market, the average size of its developments will continue to increase and the average selling price will reduce.
- Turnover more than doubled to £39.4m (2018: £18.3m)
- Completions of private homes up by 100% to 78 homes (2018: 39 homes)
- 25 new jobs created
- Sharing success via the Edenstone Foundation
- Ashgrove Partnerships business launched
- Bluebell Homes brand launched
- First zero carbon home sold
To underpin its growth, Edenstone has secured a number of larger multi-year projects, including Parc Ceirw Garden Village in North Swansea and St Mary’s Garden Village in Ross-on-Wye, featuring circa 300 homes each.
“Our aim is to continue with our growth plan and to help address the housing shortage by offering both affordable and private sale homes to meet consumer demand,” Martin explained.
“Between Edenstone Homes, Bluebell Homes and Ashgrove Partnerships, we are building homes to cater for a variety of different lifestyles and budgets, increasing the options available to all market segments.”
“Our point of difference is our focus on the design of new homes and developments, plus the creation of thriving communities where people will enjoy living now and in the future.
“Our mixed-tenure strategy delivers sector-leading growth rates while maintaining a position of financial strength. The diversification of our market offering underpins the resilience of our business model through the economic cycle.”