Output at Berkeley to increase by 50%

Housebuilder, Berkeley, has announced that it is bringing forward 25 "large and complex residential-led developments" of which 20 have been acquired recently.

Related topics:  Business
Warren Lewis
23rd January 2020
construction 998

The firm, who completed around 3,700 homes in its last full year, has begun construction on 20 new sites, including a number of these new large regeneration sites, over the past 18 months, and these will help deliver the extra homes. However it warned that the majority of sales from these regeneration sites will be at a lower average selling price than properties completed in recent years.

Berkeley said in a statement: "Since the end of the financial crisis in 2011, Berkeley has acquired a number of long term regeneration sites, a number of which are now in or coming into, production. In total, Berkeley is in the process of bringing forward 25 large and complex residential-led developments, of which 20 have been acquired since the start of this period. These sites typically deliver between 1,000 and 5,000 homes and their development can take up to 30 years to complete."

"Their complexity often means that it can be five or six years before the first homes are delivered. The successful transformation of these sites is founded on trusted partnerships with local authorities and communities and their development is directly aligned to the government's strategy for increasing the supply of good quality homes across all tenures. Berkeley is now the only developer undertaking major brownfield regeneration at scale in London and the southeast as the increasing risk and complexity of these activities has seen those with lesser expertise and resources leave this area of the market. The delivery of these sites is vital to meeting the housing needs of our towns and cities while relieving pressure on greenfield land.”

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