Edenstone’s Southern land director James Morgan said: “The property market has been very hot, but we couldn’t have asked for a more positive start to our trading in the South West region. Acquiring sites has been highly competitive over the last year and this could have potentially presented an extra challenge to us as perceived newcomers in the area.
“But the deal-flow, which would be more than satisfactory for an established player in the region, has been consistent. It demonstrates that vendors, agents and promoters recognise that we are very much open for business and a good development partner – a message we continue to spread.”
While Edenstone is a relatively new name in the South West, the business is preparing to celebrate its 20th anniversary next year.
Expanding into the South West is part of the Group’s growth plan of achieving £100 million turnover by 2023.
Acknowledging that the government’s recent mini budget had “caused some turbulence”, James said there was “no room for complacency, especially in the light of recent economic news.”
“There’s little doubt that the industry now faces new challenges, but we are confident that Edenstone is well-placed to deal with these head-on. Our track record in other regions, built up over 20 years, together with our financial stability undoubtedly helps,” James added.
“Our readiness to be imaginative in the way we look at deal structures, our reputation for no-nonsense process, our ability to take quick decisions because of short reporting lines and our capacity to execute quickly because of in-house legal delivery, have all played their part in our progress and will continue to do so.”