Urban Splash returns to profit

Urban Splash, which is behind regeneration projects at Lister Mills in Bradford and Park Hill, Sheffield, said it was in a position to respond to “many opportunities” in the UK property market. In the period ending September 2013, the Manchester-based developer recorded a “substantial” increase in its turnover from £33.6m to a record £132.6m. The company also recorded a small profit of £50,000, an improvement on the loss of £15.4m the year before.

Tom Bloxham, Urban Splash’s chairman, said: “The last 18 months has been one of the most important in our recent history; one which has hopefully put Urban Splash on a sound platform for future growth as well as finding a solution to the problems associated with the large debt burden which has beset us since the onset of the financial crisis in late 2008.”

Simon Gawthorpe, a director of Urban Splash, which has a regional office in Leeds, said: “This is the best market there has been for six or seven years - without question.”