Housebuilder Edenstone is on track to post a surge in revenues following the completion of a flagship development and homes selling off plan.
The Magor-headquartered group, which includes Edenstone Homes, Bluebell Homes and Ashgrove Partnerships, will meet its target of completing 320 homes and reaching revenues £80m – up from £57m last year – for its current financial year to the end of April.
Next year the company will celebrate its 20th anniversary and is targeting revenues of £100m.
To support its continued growth, last September it opened a new south west office overlooking Portishead Marina.
The Edenstone Group is currently selling across six sites and will also be commencing on four new projects this year. These new schemes in Coleford, Tiverton, Langland Bay in Swansea and Pontprennau, Cardiff will provide the impetus to the next phase of Edenstone’s growth plan.
Sign up to the BusinessLive Wales newsletter and follow us on LinkedIn
As well as an in-depth early morning newsletter, we will be sending out regular breaking news email alerts. To sign up to this service
And, follow us on to catch the latest stories and to network with the Welsh business community.
Edenstone Group aims to be a net zero carbon business by 2025 and has formed a joint venture with Sero to pave the way for the delivery of 6,000 zero carbon homes across Wales and the South West of England by 2030.
Group chairman Martin Taylor said: “The last 12 months have seen the business go from strength to strength thanks to buoyant market conditions and the diversity of our product mix.
Most Read
“Highlights of the last year include Parc Ceirw Garden Village in Morriston, achieving sell-out success at River View Garden Village in Lydney opening our new south west office – our first base outside of Wales – and forming a joint venture with Sero to deliver zero carbon homes.
“We’re continuing to see unprecedented levels of demand across our sites. We’re selling well ahead of our forecasted targets and the build programme – in some cases homes are being reserved twelve months in advance of the completion date.”
The chairman added: “It may only be February but we’re already looking ahead to 2023 and our 20th anniversary year. We’re hoping to celebrate the milestone by achieving turnover of more than £100m.
“Our Ashgrove Partnerships business is a critical part of our growth plans, working with housing associations, financial institutions and the private rental sector to deliver much-needed affordable housing and homes for rent.”