Strata Homes announce double digit growth as sales reach £98.9m

Strata, the privately owned regional home builder, has announced double digit growth in the year ending December 2015.

The Doncaster-based business saw sales increase by 14% to £98.9m, and profit before tax reach £11.1m, which was a rise of 14.1% on Strata’s 2014 annual statement.

During 2015, Strata completed 569 sales across 16 development sites within Yorkshire and East Midlands. The average selling price increased to £174k as a result of newer developments offering higher value homes and a greater mix of properties.

Strata’s strong performance has been supported by a continued strengthening of the housing market, which has been underpinned by the prolongation of low interest rates, real wage growth and mortgage affordability.

Andrew Weaver, chief executive of Strata, said: “2015 has been another successful year for Strata. Whilst this has certainly been supported by the buoyancy of the housing market and the economy, our growing reputation is helping us to differentiate ourselves and expand in a dynamic fashion.

“Our business ethics and fundamentals are strong; our land acquisition strategy is supported by a balanced portfolio of sites sourced from large scale central government disposals, our strategic pipeline and private vendors.

“We continue, however, to seek new opportunities and remain active in the land market to deliver growth to 2020. We have a focus on building homes in desirable locations, set high standards in design and quality and offer a unique customer experience.”

The privately owned business employs 60 team members at its head office and a further 60 across its development sites.

Last year saw Strata strengthen its position for future growth and maintain its land purchase programme, which will help the business deliver its plan to build 750 residential homes each year by 2018.

In April 2016, Strata secured a £50m funding package from Lloyds Bank Commercial Banking which gives the business a flexibility in delivering its land acquisition strategy.

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