Double digit growth for housebuilder as turnover approaches £100m

STRATA, the privately owned regional home builder, has announced double digit growth for 2015 with sales increasing by 14% to £98.9m.

For the year ending December 2015, profit before tax reached £11.1m, an increase of 14.1% on the group’s 2014 annual statement.

During 2015, Strata completed 569 sales across 16 development sites within Yorkshire and the East Midlands. It said the average selling price increased to £174,000 as a result of newer developments offering higher value homes and a more diverse mix of properties.

The performance of the Doncaster-based business has been supported by a continued strengthening of the housing market and a stable domestic economy, it said, 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 business was also recognised within the Sunday Times BDO Profit Track 100, a league table that details which private companies have experienced the fastest profit growth.

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

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