Redrow sees record results as it puts forward plans for York development

Redrow's "garden village" approach combines quality housing with green open spaces
Redrow's "garden village" approach combines quality housing with green open spaces
0
Have your say

Housebuilder Redrow has reported record results just days after it submitted an outline planning application to build 970 new homes near York as part of a £200m "garden village" scheme.

The plans will cover 146 acres north of the Monks Cross shopping centre and, if approved, will include a new primary school, open green spaces, community facilities and a convenience store.

Redrow expects to hear York City Council's decision over the coming months.

Lindsay Ramsden, head of planning for Redrow Homes (Yorkshire), said: “Our plans for Monks Cross North are to create a lively, sustainable community with close links to York city centre.

“Due to be delivered over 10 years, our proposals comprise approximately 970 new homes, including affordable homes which will make a significant contribution towards York’s housing provision."

The plans also include sports pitches, children’s play areas​, public footpaths and cycle routes to connect with existing networks.

The York proposal is in keeping with the ​"​garden village​"​ approach that Redrow has​ ​adopted elsewhere in the UK, inspired by the principles set down by the founder of​ ​the garden city movement, Sir Ebenezer Howard, at the end of the 19th century.

​“Howard’s ideology encouraged sustainable homes and employment surrounded by​ ​green open spaces,” said ​Ms Ramsden.

“At Monks Cross we will be providing the homes,​ ​open spaces, tree-lined boulevards, a nature reserve, new bus route and a primary​ ​school, with good access to existing employment centres.”

Two consultation events have already been held to discuss the plans with local​ ​residents.

Subject to successfully negotiating the planning process and timely adoption of the​ ​York Local Plan, work at Monks Cross North could start in spring 2019, with the first​ ​homes potentially ​being ​lived in by summer 2020.

On Wednesday Redrow said that higher selling prices and a jump in completions ​boosted​ ​revenue and profits ​in the six months to December 31.

The group ​reported a 26​ per cent​ ​increase​ in half-year pre-tax profits to a record £176​m, while revenue ​rose by a fifth to £890​m over the period.

Redrow's performance was underpinned by a 14​ per cent​ rise in legal completions to 2,811, with the average selling price ​ris​ing 9​ per cent​ to £330,000.

The group's order books ​rose 5​ per cent​ to £1.1​bn over the six month period.

Redrow​'s​ chairman Steve Morgan said the company ​i​s on track to meet its growth targets thanks to the robust sales market and strong order books.

"It gives me great pleasure to announce Redrow has again delivered record results, for the first half of the financial year​," he said.​

"Reservations in the first five weeks of the second half have been in line with the strong comparable period last year.​ ​We entered the second half with a record order book, and customer traffic and sales remain robust.​"

He said that g​iven the strength of both ​the​ order book and land holdings, together with the robust sales market, our growth strategy remains on track.

"This gives me every confidence it will be another year of significant progress for Redrow​," he added.​

Redrow is the housebuilder behind the transformation of the old Clifton grain store site in York to create two neighbouring developments, The Granary and Lancaster Mews.

Last year Redrow’s Wakefield-based operation was named Housebuilder of the Year in the Yorkshire Residential Property Awards.

The firm is also building new homes in Morley, Horsforth, Sherburn-in-Elmet, Highburton, Green Hammerton, Newton Kyme and Harrogate, with developments coming soon in Scissett and Wakefield.