Strong showing from Gentoo’s housebuilding business
Developer Gentoo Homes, the commercial housebuilding arm of Gentoo Group, exceeded its surplus target for the latest financial year after selling 199 homes across the North East.
The division returned approximately £4m to its parent company, which will be reinvested in Gentoo Group's affordable housing provision in Sunderland.
Strong sales have been experienced throughout the region, with particular success at its Cottier Grange development in the the Tyne Valley, the first phase of which sold out ahead of programme.
The company is also progressing with plans to build more than 600 new homes over the next few years, of which 326 have planning permission, including the first phase of properties at the Chester Gate site on the edge of Sunderland.
Anthony Lowther, managing director at Gentoo Homes, said: "We’re extremely delighted with yet another strong year of sales, but more importantly a strong year of positive customer feedback on the homes we are delivering for people across the North East.
"I’m really proud of the homes we build and the team we have in place here at Gentoo Homes – well done to everyone for contributing to another highly successful year."