Strong sales earned Gentoo Homes’ parent group a £4 million surplus last year

IT’S been a strong year for Gentoo Group’s commercial housebuilding division, which smashed its target with a reported £4 million surplus for 2018/19.

Gentoo Homes scored its surplus following the sale of 199 homes across the North East during the financial year; it also achieved a four-star NHBC customer satisfaction score.

The surplus will be ploughed back into the parent group’s affordable housing provision in Sunderland, Gentoo said.

“We’re extremely delighted with yet another strong year of sales, but more importantly a strong year of positive customer feedback on the homes we are delivering for people across the North East,” said Anthony Lowther, Gentoo Homes’ managing director.

“I’m really proud of the homes we build and the team we have in place here at Gentoo Homes – well done to everyone for contributing to another highly successful year.”

Strong sales have been experienced throughout the region, the company said, with particular success at its Cottier Grange development in the heart of the Tyne Valley, the first phase of which sold out well ahead of programme.

Gentoo recently launched its new show home on its premium Lanchester Rise development in County Durham, which is to be followed by its new Sandpiper View scheme in East Boldon, for which it has already received an 800+ expressions of interest on its 18 properties.

The company is also pressing ahead with plans to build more than 600 new homes across the region over the next few years, of which 326 have planning permission, including the first phase of properties at its new flagship Chester Gate site at the gateway into Sunderland, as well as schemes on the horizon in Chapel Park, Doxford Park and Marsden.

This follows Gentoo’s recent reappointment to Newcastle City Council’s Developer Framework earlier this year, which will see the company continue to help deliver much needed, high-quality new housing across Newcastle.

Nigel Wilson, chief executive of parent company, Gentoo Group, said: “Gentoo Homes is a great success story and continues to play a really important role in delivering a wide variety of new homes for the people of the North East, whilst delivering an invaluable surplus back to Gentoo Group, so we can continue to deliver on our social purpose and help local people through the provision of affordable housing and additional support services in Sunderland.”

NH

Main Image: Gentoo Homes’ management team. Technical director David Thomas (left), managing director Anthony Lowther (centre) and construction director Dan Levington (right)

 

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