Keepmoat boss says flotation still on the table for the business

Tim Beale told The Yorkshire Post that the firm was still contemplating an IPO as the firm rolls out more schemes around Yorkshire.

Keepmoat was considering a flotation last year before the first Covid-19 lockdown in the spring and Mr Beale said that it was still under consideration.

“We are looking at all our options on that,” he said.

“It is certainly something that we would be interested in but it is just about timing.”

Keepmoat, which specialises in new builds for first-time buyers, announced land deals for projects in Barnsley and Scarborough in December with another large project not far away at Gainsborough,

Mr Beale said that the pandemic had boosted demand for the market.

“In many ways we are doing really well,” he said.

“All through the period where we were locked down we carried on with our land deals and making investments for the future while being careful with our cash.

“We rightly predicted there would be huge demand coming out of lockdown.

“This is not just due to stamp duty holidays and not just because of Government stimulus but because of a change in peoples’ attitudes to where they live.

“If you are in substandard accommodation or wanting to move out of the family home the whole Covid period has really made people want to go and buy their own house.”

To support its growth, Keepmoat has also launched a graduate training programme.

Mr Beale said: “We need capable young people in the business. It is how I started off 22 years ago. It is a great way into the industry.”