Property developer builds towards record year as profits set to exceed £10m

S Harrison, the York-headquartered property developer, is set to double annual profits to more than £10m in 2018.

The business says projects in the hotel, residential and student accommodation sectors will all be major contributors to a pre-tax profit that is set to surpass the £10m mark this year, compared with £4.6m in 2017.

Turnover, just under £30m in 2017, is also expected to top £40m.

Ann Scott, managing director at S Harrison, said: “Development is a long-term process.  What pleases us most is looking at three-year patterns and seeing the consistent profit growth of the business over time, despite the challenges faced by the UK economy over the past decade.”

Student schemes in Leeds and York have come on stream this year, and by December S Harrison will have handed over hotels for Hotel du Vin in Stratford-upon-Avon and Travelodge in Lincoln.

New build and refurbishment residential and retail developments in York have also contributed to the financial success in a year, which has seen S Harrison achieve planning approval on a number of schemes including the redevelopment of a Grade-II listed building in Edinburgh.

Ann added: “Vital to us is to build on our long-established reputation for delivering beyond expectations. We are constantly seeking additional high calibre people at all levels who can complement the skills we have and who share our commitment to quality.”

The company is also set to make an announcement later this month about a new senior hire to the team.