developments
The Developments business continues its strategy of creating value through land management, with capital employed increasing by 29% to £43.5m during the year. It returned a strong pre tax profit of £4.0m.
Changes in government planning policy caused uncertainty and delay for landowners and developers alike in 2010. However, Developments' business flexibility and planning capabilities enabled it to gain consent for 297 homes on five sites with well-conceived schemes for local people. Along with sites acquired during the year, this planning success has contributed to increasing the number of homes that will be delivered with joint venture partners to 968 homes on seven sites.
Annual Result highlights for Wates Developments include:
- £43m capital employed 2010
- 2,607 acres controlled
- Planning secured for 297 homes on five sites
related project stories
view annual report 2010
