The Sunderland-based developer which is the residential property development arm of Gentoo Group sold 162 new homes, from Prudhoe in the north of the region down to Guisborough in the south, grossing £35.5m.
The news comes at the same time Gentoo and the Homes and Communities Agency (HCA) have agreed a £22m finance deal which will see the company develop 400 new homes for sale and for rent across the North East.
The company is now looking ahead to another successful year, with a strong sales pipeline built up of new and existing developments planned in Gosforth, Wylam, Benton, Carlton, Hart Village, Guisborough and Fenham.
The company continues to develop homes in its core area of Sunderland at Hillcrag in High Ford, Thurcroft in Doxford Park, Meadow View in Houghton-le-Spring and Castle Rise in Downhill. There are also planned developments for Glebe in Washington and Broomhill in Hetton, whilst currently working on plans for its large site on Chester Road in Sunderland.
Colin Wood, director of Gentoo Homes, said: “We are delighted to have built on previous years successes and the record level of turnover demonstrates our customers’ confidence in the quality, design and locations in which we deliver. We could not have achieved this without the hard work and dedication of our exceptional staff.
“Gentoo is rooted in the North East and we continue to be committed to building high quality sustainable homes to help meet the region’s housing demand. Our new loan agreement with the HCA will help us do just that and we are delighted that we will be delivering 400 new homes for the North East.”
Gordon More, head of investment at the HCA, added: “This loan will help ensure that Gentoo can continue to provide much needed new homes for local people for the next three years. The range of home types that will be built will provide real choice for home owners.”
Within the last year the company celebrated building its 1800th new home in Sunderland as part of £1bn investment in the city by the wider Gentoo Group. Gentoo Homes, which is the residential property development arm of Gentoo Group, secured planning permission on 657 plots during the 201516 financial year.
Gentoo Homes, which is the residential property development arm of Gentoo Group, secured planning permission on 657 plots during the 201516 financial year.
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