UK
Ireland
Scotland
London
Construction News
02/10/2007
Manorlane Targets Retirement Sector Following Second Year Of Growth
Manorlane almost tripled turnover in its second year of trading according to latest results issued by the Scottish housebuilder.
The results came as Manorlane announced plans to create assisted living communities for the over-60s under its new Active Living brand.
Final results posted by Manorlane for 2006/2007 show turnover increased by 265 per cent to £13.67m from £5.14m in the previous year. Pre-tax profit for the year was £3.13m, up 291 per cent compared to £1.075m in the year ended 30 April 2006.
The year under review saw the company expand its land bank from 564 plots to 608 plots with a GDV of £124m, although in the last few months alone Manorlane has gone on to further strengthen its contracted land bank to 1,600 units with three major land deals at Greenlaw, in Newton Mearns, and the former Clydesdale steel works, in Bellshill, that are set to deliver the company £220m over the next five years.
Elliot Robertson, Chief Executive, said: "We have enjoyed an extremely successful second year and the financial outlook for the company remains robust with turnover and profits on track to more than double in the current financial year.
"Our homes continue to be in high demand, offering buyers an aspirational, luxury product in a price bracket which remains affordable in the middle market. We will maintain our high standards in build quality, style and sustainability, with innovation key to our agenda for growth."
Manorlane’s latest venture, Active Living was created in response to the growing demand for independent, safe accommodation for the over 60s. The new company will build and sell retirement property, providing residents with a stepping stone between their own home and full residential care.
Residents buying a home within an Active Living complex will benefit from the added reassurance of 24-hour on call care, should they require it. The apartment complexes will offer a choice of one, two and three-bedroom flats and will incorporate communal living and dining areas.
To date, two sites have been selected by Manorlane for possible development – Clydesdale and Blackridge. The Active Living complexes will form part of larger developments of family homes and community facilities in order to create integrated communities.
(CD)
The results came as Manorlane announced plans to create assisted living communities for the over-60s under its new Active Living brand.
Final results posted by Manorlane for 2006/2007 show turnover increased by 265 per cent to £13.67m from £5.14m in the previous year. Pre-tax profit for the year was £3.13m, up 291 per cent compared to £1.075m in the year ended 30 April 2006.
The year under review saw the company expand its land bank from 564 plots to 608 plots with a GDV of £124m, although in the last few months alone Manorlane has gone on to further strengthen its contracted land bank to 1,600 units with three major land deals at Greenlaw, in Newton Mearns, and the former Clydesdale steel works, in Bellshill, that are set to deliver the company £220m over the next five years.
-- Advertisement --
Elliot Robertson, Chief Executive, said: "We have enjoyed an extremely successful second year and the financial outlook for the company remains robust with turnover and profits on track to more than double in the current financial year.
"Our homes continue to be in high demand, offering buyers an aspirational, luxury product in a price bracket which remains affordable in the middle market. We will maintain our high standards in build quality, style and sustainability, with innovation key to our agenda for growth."
Manorlane’s latest venture, Active Living was created in response to the growing demand for independent, safe accommodation for the over 60s. The new company will build and sell retirement property, providing residents with a stepping stone between their own home and full residential care.
Residents buying a home within an Active Living complex will benefit from the added reassurance of 24-hour on call care, should they require it. The apartment complexes will offer a choice of one, two and three-bedroom flats and will incorporate communal living and dining areas.
To date, two sites have been selected by Manorlane for possible development – Clydesdale and Blackridge. The Active Living complexes will form part of larger developments of family homes and community facilities in order to create integrated communities.
(CD)
Latest Construction News
17/01/2025
Leeds Trinity University has officially opened its newly refurbished City Campus at 1 Trevelyan Square in Leeds.
Completed by GRAHAM Interior Fit-Out, the transformation of the central Leeds site introduces state-of-the-art facilities designed to improve learning and collaborate with industry partn
17/01/2025
Trammell Crow Company (TCC) has secured planning permission for a Grade A logistics scheme in Heywood, Greater Manchester, following a successful planning appeal.
The development will feature two state-of-the-art industrial and logistics buildings. One building will house two units measuring 4,796
17/01/2025
Poole-based developer AJC Group has celebrated a record-breaking 2024, delivering 100 affordable homes, a significant increase from the 72 units completed in the previous year.
Since 2023, AJC Group has completed and handed over 172 affordable homes across five sites.
In 2024 alone, the developer
17/01/2025
Plans for one of the most ambitious parks projects in London have taken a significant step forward, with Haringey Council securing nearly two additional acres of land around The Paddock nature reserve in Tottenham Hale.
The agreement with Thames Water marks a major milestone in the transformation o
17/01/2025
Islington Council has unveiled two draft guidance documents aimed at helping residents, businesses, and developers combat climate change by making buildings more energy efficient and fostering a greener, healthier borough.
The consultation seeks feedback on the draft Climate Action Supplementary Pl
17/01/2025
The City of Wolverhampton Council has unveiled a £98 million investment plan over the next five years to develop around 500 new homes across the city.
The proposal, part of the Housing Revenue Account (HRA) Business Plan, received Cabinet approval this week and now moves to Full Council for final
17/01/2025
Croydon Council has announced a significant milestone in the redevelopment of the Purley Pool site, with revised proposals submitted for a new leisure centre, later living housing, and the regeneration of the surrounding area.
A planning application for the site was initially submitted in 2024, pro
17/01/2025
The City of Wolverhampton Council has announced that demolition work has commenced on the New Park Village estate, marking the start of a major £40 million redevelopment project to transform outdated council housing.
Contractor DSM Demolition has begun pulling down poor-quality bungalows on Valley
17/01/2025
Hillingdon Council has acquired 12 new homes at Carpenters Court in Uxbridge.
Leader of Hillingdon Council, Cllr Ian Edwards and Cllr Steve Tuckwell, Cabinet Member for Planning, Housing and Growth, visited the site to officially mark the handover of the properties from local developer Kearns Devel
17/01/2025
Organisers of UK Construction Week (UKCW) have announced another major coup for the show's 10th anniversary year, with the news that UKCW London will be co-locating with the 14th edition of The Stone Show & Hard Surfaces, the principal industry event for surface design.
Established 26 years ago, th
