Revenues up 30% at Fruit Market housebuilder
EAST YORKSHIRE developer Beal, the company behind the redevelopment of Hull’s Fruit Market, has had an “excellent” year with revenues up nearly 30%.
The company, which has recently undertaken a joint venture with the Wykeland Group to transform Hull’s Fruit Market area with an £80m development, saw revenues reach £31.2m for the year to 31 December 2015.
Pret-tax profits grew by £1m, from £2.8m in 2014 to £3.9m in 2015.
The average selling price of a unit also rose from £168,956 to £182,549, and the company is aiming to build 250 units a year in 2016.
In June 2016 it was announced that Beal had submitted a planning application for 100 homes at the Fruit Market site. The residential development is costing £17m to build as part of the leisure and creative section of Hull, in partnership with the council.
