Sheffield regeneration specialist ‘performing well’

Press shots, MJ Gleeson - Gleeson Homes
Press shots, MJ Gleeson - Gleeson Homes

Sheffield-based regeneration specialist MJ Gleeson is ‘performing well’ according to the latest trade updates.

Gleeson Homes, which builds homes and redevelops land for sale, said sales of homes between January and April are up by 12 per cent compared with the same period last year.

The business now expects to record at least 730 property completions in the year to June 30 - a 30 per cent increase on the 561 units completed in the previous year.

The Government’s ‘Help to Buy’ initiative continues to be popular, with 42 of the firm’s purchasers in the year to date taking advantage of the scheme.

Gleeson currently has 41 active sites, compared with 37 at the same stage last year, with a total of 5,801 plots either owned or conditionally purchased.

The business is in discussions regarding the acquisition of a further 13 sites which would add a further 1,855 plots to the regeneration land pipeline.

Gleeson Strategic Land, which enhances the value of land through the planning process and sells it to developers, has also performed well.

To date this year, the firm has sold a 28 acre site in the south of England with planning permission for 180 units. Their portfolio consists of 68 sites totalling 3,887 gross acres, which have the potential to deliver 20,900 plots. Of these, 13 sites have submitted planning applications, or planning appeals lodged.

In a statement, the company said the board is ‘encouraged by the company’s performance’ and ‘confident of further substantial improvements’.