Housing project pipeline boosts St Modwen

Aaron Morby 12 years ago
Share

Developer St Modwen plans to press ahead with a strong pipeline of work despite concerns about growing uncertainty in the commercial and housing markets.

Announcing pre-tax profits up a third to £50m, the developer said it was on course to deliver further growth this year in spite of the Eurozone crisis denting confidence, particularly in office work.

Bill Oliver, chief executive of St.Modwen, said: “Our commercial developments in progress together with our active house building sites will deliver property profits to underpin our results for 2012 and beyond.”

“Although the wider economic environment remains unpredictable and there may still be further challenges for the sector we are confident that our asset portfolio and development pipeline will provide us with many opportunities to add significant value for our shareholders.”

St Modwen through its partnership with Persimmon said it was now pressing ahead with several schemes.

    St Modwen work pipeline

    Work in progress

    · Llanwern/Glan Llyn, Newport, South Wales where construction commenced on 311 homes. The site has outline consent for 4,000 homes, the first phase of which has been commenced by Persimmon.

    · Coed Darcy, Neath, South Wales, having resolved Compulsory Purchase Order issues, detailed planning applications were submitted for further development with an increased outline consent for up to 4,000 homes.

    · Long Marston, Stratford-upon-Avon, Warwickshire with outline planning consent secured for the development of up to 500 homes.

    · Longbridge, Birmingham with detailed planning applications submitted for further development of 229 homes in addition to the 113 homes already under construction by St. Modwen Homes and strong levels of initial sales.

    Future pipeline

    Branston, Burton on Trent – planning application submitted for 660 homes and employment space on 280 acres of land for mixed use development.

    · Pye Green, Hednesford, Cannock – planning application submitted for up to 700 high quality homes on a 142 acre development to the north of Cannock Town Centre.

    · Melton Park, Hull – proposals being worked up to adapt part of the 100 acre Melton Park for residential development in response to the current need for new family homes.

    · South Ockendon, Essex – outline planning permission obtained for 650 homes on a 31 acre former car factory site acquired from Ford in 2006. The scheme will form a key part of the delivery of new housing in the Thames Gateway.

    · Uxbridge – obtained planning permission for 1,340 units plus approximately 200,000 sq ft of B1/retail space.

Latest news

McLaren gets green light for 45-storey Leeds tower

Landmark Wellington Square scheme will see 464 flats built with 360,000 sq ft of offices
20 hours ago

Heavy rain causes 1.9% construction output fall

Hopes remain undampened of a resi-led recovery this summer
21 hours ago

Taziker restruture to return to profitability after £1.2m loss

Founders bought the business back from private equity after last year's loss
21 hours ago

£220m London wharf homes scheme approved

285 homes to be built beside protected Albert and Swedish Wharves in Wandsworth
21 hours ago

Major project veteran named civils director for Sizewell C

David Speight previously worked on Hinkley, Heathrow and HS2 client teams
21 hours ago

Morgan Sindall lands £19m Milton Keynes hospital job

Crane lifts to be carefully co-ordinated to ensure air ambulance remains active
1 day ago

Clancy bolsters civils leadership team

Daniel Tonkin and Simon Hyams join as operation directors of water and infrastructure
2 days ago

Balfour names new project boss for HS2’s super-hub station

Steve O’Sullivan replaces Nigel Russell who was promoted to CEO of Balfour's HS2 ops
2 days ago

Buckingham Group supply chain hit doubles to £256m

Total owed to unsecured creditors soars as surety providers finalise claims
2 days ago

Builders demand an end to police plant bans

Call to suspend all embargoes on moving mobile cranes and large site kit
2 days ago

Green light for £65m Blackpool multiversity campus

Education campus of 350,000 sq ft will be delivered in phases
2 days ago

Vinci signs £138m Sheffield steel forge expansion deal

Sheffield Forgemasters signs landmark contract after two years of pre-construction works
2 days ago

McAlpine hires HS2 programme boss to head defence arm

Armed forces logistics expert Mike Hickson takes role as MD of defence
3 days ago

£200m carbon capture plan for Deeside site

Energy from waste operator enfinium looking to invest in North Wales plant
2 days ago

McAleer & Rushe promotes five staff to contracts directors

Design and build contractor targets £500m revenue next year
3 days ago

Consultant quartet win Government estate upgrade deal

Government Property Agency selects Arcadis, Tetra Tech, AtkinsRéalis and McBains
3 days ago

Resi towers pioneer to transform Liverpool site

Beetham founder Hugh Frost to help develop 1,200 new homes
3 days ago

Construction Manager of the Year crowned

Galliford Try's Barry Kingscote wins coveted prize: Full list of winners
3 days ago

Landsec £250m London terraced office job approved

Skanska tipped for 20-storey Hill House scheme near Fleet Street
3 days ago

Lendlease tops March contracts league

BAM and ISG rank third with big contract wins
3 days ago

Vistry strikes deal with Homes England for 1,000 units

Firm's timber frames factory will supply most of the Midlands houses
3 days ago

Morgan Sindall go-ahead to build 23-storey Salford resi job

Funding deal with CBRE allows latest project on bank of River Irwell to proceed
4 days ago

Unite Students gains planning for London and Bristol schemes

RG Group will build landmark Stratford tower and Freestone Island projects
4 days ago

Rolls-Royce gets go-ahead for 1.1m sq ft expansion in Derby

Major expansion of Raynesway campus planned to met submarine fleet orders
4 days ago

GMI Construction edges back into profit

A year of controlled consolidation helped generate £0.9m profit but cash at bank dropped to £10m
4 days ago

Balfour gets final sign-off for HMP Highland at £209m

Deal struck for delayed Inverness prison after costs rocket
4 days ago

Renew buys bridge maintenance business

Contractor boosts highways division with £5m acquisition
4 days ago

HS2 tests market for £150m mass transit job

2.4km long elevated Automated People Mover to go out to tender in 2026
4 days ago

Cardo completes fourth acquisition in a year

Expanding Welsh building maintenance specialist reaches £170m turnover
5 days ago

Watchdog clears Heidelberg takeover of Mick George

Four quarries and five ready-mix operations to be sold to meet competition concerns
5 days ago

Contractor services