Land acquisition puts housebuilder in prime position for 2010
Following an extremely positive start to the year in sales terms, family owned and run housebuilder, Llanmoor Homes has further proven its strong position by embarking on one of the first major land acquisition deals to take place in South Wales since the recession began.
The Talbot Green-based housebuilder – which was established forty-four years ago and has built in excess of 4000 homes across the South Wales region – has completed a deal with a prominent national housebuilder to purchase 7.5 acres of prime residential building land in Coity, Bridgend, supported by Barclays Corporate.
This greenfield site will be part of the new community of Parc Derwen and will accommodate one hundred new homes – a mixed development of 2, 3 and 4-bedroom semi and detached properties, 10% of which will be affordable housing.
Total revenue generated by this acquisition will be in excess of £16m and this latest purchase will increase the number of plots owned by Llanmoor to in excess of 800 units – equivalent to in the region of five years supply at normal construction and sales rates.
Speaking about this latest substantial investment by the company, Llanmoor director, Simon Grey, says:
“As a business, we’ve enjoyed an excellent start to 2010 and this latest land purchase really does put us in an extremely strong position going forward.
“This is the first major purchase we’ve made since the recession began and we are now very actively in the market for more land. We certainly have the confidence in the market going forward to continue building up our extensive landbank and with the appropriate funding secured it’s now a case of finding suitable plots. We’re constantly looking three to five years ahead and, quite literally, building for the future.
“We actually first looked at this site in Parc Derwen in November so the purchase process has been relatively fast – due largely to the excellent working relationship we have with our bank, Barclays and the efficient and professional service provided by both Hugh James our solicitors and Rawlins & Madley chartered surveyors.
“We really do have everything in place to allow us to acquire more land quickly and would welcome the opportunity to talk to anybody in a position to sell.”
Cliff Jones, Barclays Corporate Relationship Director said “Barclays Corporate is committed to using our industry expertise and specialists to support such propositions, which are vital to a prosperous economy. By really understanding the sector, and particularly Llanmoor Homes long track record of success, Barclays Corporate has been able to provide support for the project. This deal further demonstrates that debt funding is readily available for the right propositions.”
Jeremy Rawlins of Rawlins and Madley added:
“We have acted on Llanmoor’s behalf many times, and it is always a pleasure to do so as they adopt an extremely thorough but positive approach. Llanmoor’s schemes have always suited the Bridgend market, as evidenced by their development at Broadlands, which is now drawing to a close. Parc Derwen is a great location, and it will, I am sure prove equally as successful”.
Tags: Llanmoor Homes
