Purchases range from sites ready for immediate development, to tactical acquisitions of sites which open up the potential of neighbouring land, to areas which will become key housebuilding terrain in the future. All of these purchases are funded by our careful financial strategy, which balances loan finance, joint venture funding and equity released from operations.
Progress over past year
- The size of the land bank has still increased since last year end despite the sale of 837 plots and 275 homes during the year. The Board also made the decision not to purchase any significant new sites due to the number of plots being processed through the planning system by the Group.
- Planning permission or resolution to grant planning permission was obtained on 594 plots during the year.
Focus for the future
Continue to secure more planning consents and acquire sites with excellent potential to add value.
- Undiluted EPRA net asset value per share
- Net gearing
- Number of plots with or without planning consent
- Total residential plots sold
- Planning permissions gained during the year