Property specialist reports record turnover and profit

Property developer and investor Barberry Group has posted record turnover and pre-tax profits as it celebrates 40 years in business.

In the group’s most successful year to date it generated a turnover of £73.3m (2021: £31.7m) and profits before tax of £17.1m (2021: £3.7m) for the year ended June 30, 2022.

Managing director Henry Bellfield said: “As we celebrate Barberry’s 40th anniversary, it is enormously satisfying to report that we have enjoyed a record-breaking year. Our investment and development strategy, with a focus on sectors with strong long-term growth drivers, has been highly successful and we are looking to the future with confidence.”

The Midlands-based group has continued to make progress in its development of industrial and logistics assets and has benefited from the strong structural demand, he said.

2022 was an exceptionally busy year for Barberry, with a significant number of developments and transactions coming to fruition. ESG was at the forefront of building design and development, with all buildings achieving EPC A, and the MOOG facility in Tewkesbury achieving EPC A+. Barberry transacted over one million sq ft of market-leading, occupier focussed, institutional industrial developments across six sites and 19 buildings.

In addition, the group secured £3m from disposals of commercial and residential assets. These disposals, together with the net rental income, contributed £19.2m to operating profits during the financial year.

Rental income from commercial and residential properties was £1.3m (2021: £1.5m). The reduction is largely attributable to the disposal of properties during the year.

The group also continues to promote and bring forward strategic sites for residential and employment development under both existing agreements with landowners and direct ownership and continually seeks new opportunities.

“Our strategy to increase value through asset management initiatives, refurbishment and redevelopment continues and we constantly review the portfolio and seek to dispose of assets where no further asset enhancement opportunities exist, allowing capital to be recycled into other growth opportunities.

“As we look ahead, it is encouraging to note that the group is in a very strong position to benefit from re-priced investment and development opportunities wherever they might arise,” added Bellfield.