Onyx Marketing – Contract Leads – Now with Project Plans

.Following the interest made in our Contract Leads page we have found that a number of those following the page would prefer to know a few details of the projects we are involved with prior to their request to be put on the respective Tender Lists.

.So in response where we can we have added plans of the project although in most cases these are Planning Layouts, they do provide quite a bit more information about the project as they say a picture paints a thousand words.

If you are a subcontractor and are interested in being placed on the tender list of any of the projects  please contact us at info@onyxconsultants.co.uk

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Barratt Looking to Open 110 Sites in next 6 Months

Barratt Developments issued an 6 month trading Statement today giving details of  its half year trading to End of December 2010 including details of Plot sales and land purchases with them looking to open 110 new sites in the next six months (net gain after closure of finished sites of 60 sites). The agreement of terms on 57 sites equating to a total of  6,078 plots (£318.0m of land purchases) in the last 6 months.

The relevant sections of the Statement are given below but a full copy showing the previous 18 months of land deal totals can be obtained from the link to their site and report given at the bottom of this post.

Barratt Developments PLC

TRADING UPDATE

Barratt Developments PLC is today issuing a trading update for the Company and its subsidiary undertakings (“the Group”) for the six months to 31 December 2010 (“the period”) ahead of its interim results announcement.

“The Group has delivered a significant improvement in both average selling prices and operating margin even though sales volumes have been affected by difficult trading conditions.  We are on course to make further progress in the second half as we open new higher margin sites and continue to be value and quality focused.” 

Trading 

During the period the Group operated from an average of 352 active sites, down from 368 for the equivalent period in the prior year and 353 in the second half of FY 2009/10.  The Group opened 79 active sites and closed 52 active sites, resulting in a net increase in active sites to 366 as at 31 December 2010.  In the second half we expect to open a further c. 110 sites, and taking into account site closures, the net increase in active sites as at 30 June 2011 is expected to be c. 60, taking active sites at 30 June 2011 to c. 400. 

Net private reservations per active site per week were down in the period at 0.39 (H1 2009/10: 0.49), reflecting weaker customer sentiment.  The cancellation rate for the first half was 20.1% (H1 2009/10: 17.8%). 

Total completions (Note 1) for the period were 4,832 units (H1 2009/10: 5,053) with private completions of 3,669 (H1 2009/10: 4,381), social housing completions of 1,127 (H1 2009/10: 647) and joint venture completions of 36 (H1 2009/10: 25).  Social housing accounted for 23.5% (H1 2009/10: 12.9%) of completions (excluding joint ventures). The social housing mix has increased due to the higher level of new site openings over the past twelve months and the phasing of social delivery upon existing sites… 

Given the constraints on mortgage finance, particularly at higher loan to value ratios, shared equity products have remained an important part of our sales mix.  In the period, total shared equity product represented 28% of completions (H1 2009/10: 27%).  Of these completions, 537 (H1 2009/10: 754) used the Government HomeBuy Direct initiative and the remainder used our own schemes.  We have also targeted and achieved an increase in part-exchange, with 13% (H1 2009/10: 10%) of our completions supported by this in the period.  We continue to manage our part-exchange stock effectively.

Land and planning

During the first half we have continued to pursue land opportunities where they provided attractive returns.

In the six months to 31 December 2010 we have agreed terms on £318.0m of land purchases equating to a total of 57 sites and 6,078 plots, of which 81% are for houses (Note 4).  For the full year 2010/11 we anticipate agreeing terms on around 8,000 plots (mid 2009 to June 2010: 13,359 plots).

The majority of the Group’s landbank already has outline or detailed planning consent.  Specifically the Group has detailed planning consent for 100% of budgeted volumes for FY 2010/11.  For FY 2011/12, 86% of budgeted volumes have detailed planning consent, with a further 7% having outline planning consent.

The Group’s owned land bank totalled around 50,800 plots as at 31 December 2010 (2009: 50,990).  This equates to approximately 4.5 years supply based on FY 2009/10 completion volumes.

Stock and work in progress

Stock and work in progress have been tightly controlled throughout the period.  Unreserved stock units as at 31 December 2010 totalled 837 (2009: 691), 2.3 units per active site (2009: 1.9 units).

A full copy of the statement from Barratts can be obtained from their website http://www.barrattdevelopments.co.uk/barratt/en/home or the following link Statement Report

Andrew Fella at Onyx Construction Consultants is pleased to have counted Barratt as one of his first Clients when he first went freelance many years ago helping them set up their new offices in the Eastern Region at Brentwood before they moved to new premises at Chelmsford a couple of years later having out grown the old offices. Its great to see some of the guys are still there and getting the job done.

If you are a house builder and need  assistance with your commercial requirements or a subcontractor looking for an introduction to major house builders such as Barratts then contact Andrew Fella at Onyx Construction Consultants Ltd

Bellway to Increases Sites from 185 to 200 in Early 2011

Things are looking up at Bellway Homes including the number of sites opening and more importantly their profit which was up 20%. With their land buyers looking to buy new land on top of the 1260 plots already bought in the later part of 2010.

Just a few of the facts issued by Bellway Homes in their Interim Management Statement on 7th December 2010.

The report in part:

Interim Management Statement

Bellway is today issuing an Interim Management Statement (IMS) relating to the
period from 1 August to 30 November 2010…

Our divisions are gradually increasing investment in new site openings and it
is anticipated that the number of selling outlets will increase from 185 to
around 200 in early 2011. Having completed the acquisition of 1,260 plots in
the period and still maintaining a net cash position, the balance sheet remains
robust. The Group’s land teams are actively looking to secure further
opportunities at attractive margins and the divisions are concentrating on
bringing newly acquired sites to the market as quickly as possible to underpin
the operating margin going forward.

The outcome for the year to 31 July 2011 will be greatly dependent on the level
of consumer confidence during the 2011 spring selling season. This, in turn is
reliant on a reasonable supply of affordable mortgages combined with sensible
lending criteria.

The Board believes it is currently well positioned in what continues to be a
tough and testing market for UK housebuilding.

A copy of the full report can be viewed on our sister site under the heading Bellway Homes – Interim Statement – Profits up 20%

Onyx Consultants are pleased to say that they have worked with a number of the people at Bellway Homes in the past and are glad to see that they will be kept busy again this year.

For more details on how Onyx Consultants Ltd and its Onyx Construction Marketing can help you do more work for the top house builders contact Andrew Fella 01473 743682 or visit the Onyx Website for more details.

Berkeley Group Increases Land Bank

As Part of its Interim Statement  issued Friday 3rd November 2010 the Berkeley Group gave details of its increased land bank, including traditional sites (one assumes not classed as brown field) in St Albans, Oxford and Horsham. Other sites acquired as their report suggests are in Prime London locations.

An Extract of the Land Section of the Interim statement is given below:

Land Holdings

At 31 October 2010, the Group (including joint ventures) controlled some 28,914 plots with an estimated gross margin of £2,301 million.  This compares with 28,099 plots and an estimated gross margin of £2,038 million at 30 April 2010. Of the total 28,914 plots, 28,647 plots (April 2010: 27,094) are owned and included on the balance sheet.  In addition, 226 plots (April 2010: 935) are contracted and 41 plots (April 2010: 70) have terms agreed. In excess of 95% of our holdings are on brown-field or recycled land.

The increase in the land bank is a result of new land acquisitions in the period which has seen Berkeley agree 13 new sites, covering some 2,500 plots.  These new sites include prime London sites in Westminster and on Hammersmith Embankment, traditional sites in St Albans and Oxford and a site in Horsham for over 1,000 units acquired through strategic land in its long-term pipeline. All of the sites agreed are in excellent locations in London and the South East with strong underlying demand for quality new homes where Berkeley can create vibrant new communities and enhance value through its development expertise.

In addition to the 28,914 plots in its land bank, and after accounting for the transfer of the site at Horsham acquired in the period to the land bank, Berkeley continues to have approximately 10,000 plots in its long-term pipeline, which it envisages delivering over the next ten years.  This includes the latter phases of Kidbrooke and Woodberry Down, strategic land and a number of sites being worked up within St Edward Homes, Berkeley’s joint venture with Prudential.  Of a more long-term nature; Berkeley hopes these sites will come through into the land bank but they currently have an uncertain outcome due to planning policy or vacant possession issues.

In terms of planning, Berkeley entered the year having achieved new or revised planning consents on 38 of its sites in the run up to the May Election.  It is therefore very pleasing to have had a number of further notable successes in the first half of this year.  These include sites in Belgravia, Westminster, Greenwich, Roehampton and Oxford, and revised consents for schemes in Battersea and Acton and the second phase of the student scheme being developed in Clapham for Imperial College.  Through the ongoing re-planning and re-assessment process, the land bank includes a net reduction of approximately 400 plots due to a combination of re-planning densities and increasing individual unit sizes and removing plots that are no longer commercially viable.

St Edward Homes accounts for some 1,400 plots in the land bank across three sites.  These include: Stanmore Place, where the first phase is selling well and development on later phases progressing and 375 Kensington High Street, which has been successfully launched to the market and where demolition work has begun.  In addition, Berkeley continues to work with Prudential to identify further sites to which St Edward Homes can add value and three of these are in the long-term pipeline.

It seems that the Berkeley Group have managed to capitalise on land at the right place and time. We remember them doing well through and after the last recession and they have done it again!

Onyx Consultants have a number of friends and contacts within the Berkeley Group of companies, glad to see they will still be employed this year and looking like being kept very busy.

For more details on how Onyx Consultants Ltd and its Onyx Construction Marketing can help you do more work for the top house builders contact Andrew Fella 01473 743682 or visit the Onyx Website for more details.

UK’s 20 Biggest House Builders by Turnover

The Top 20 house builders league table ranks the UK’s 20 biggest house builders by turnover and profit.

2010 Rank by turnover

2010 Rank by profit

Company

Latest turnover (£m)

Previous turnover (£m)

Latest pre-tax profit (£m)

Previous pre-tax profit (£m)

Latest margin (%)

Previous margin (%)

2009 Rank by Turnover

2009 Rank by Profit

1

20

Taylor Wimpey

2,596

3,468

-700

-1,970

-27.0

-56.8

2

25

2

19

Barratt

2,285

3,555

-679

137

-29.7

3.9

1

2

3

2

Persimmon

1,421

1,755

77.8

-780

5.5

-44.4

3

24

4

12

Bellway

684

1,150

-36.6

34.8

-5.4

3.0

4

4

5

1

Berkeley

615

702

110

120

17.9

17.1

5

1

6

8

Bloor *

311

335

-1.5

-51.9

-0.5

-15.5

13

18

7

17

Miller

310

646

-157

52.9

-50.6

8.2

12

21

8

16

Redrow

302

650

-141

-194

-46.7

-29.8

7

22

9

6

Bovis Homes

282

282

4.8

-78.7

1.7

-27.9

15

20

10

10

Stewart Milne

276

420

-27

25.1

-9.8

6.0

11

6

11

13

Crest Nicholson **

238

544

-50.7

-383

-21.3

-70.4

8

23

12

14

Galliford Try

235

486

-53.8

10.6

-22.9

2.2

6

8

13

3

McCarthy & Stone ***

226

457

19

114

8.4

24.9

10

3

14

7

Fairview

224

223

0.4

-32.3

0.2

-14.5

17

17

15

9

Countryside

188

518

-25.7

26.5

-13.7

5.1

9

5

16

11

Cala

168

175

-33.9

-266

-20.2

-152.0

14

11

17

5

Telford

159

107

7.3

4.3

4.6

4.0

24

12

18

15

Kier

151

312

-62.4

-21.2

-41.3

-6.8

16

15

19

18

McInerney

127

256

-164

-175

-129.1

-68.4

22

14

20

4

Morris

112

163

11.9

17.3

10.6

10.6

18

9

Totals

10,910

16,204

(1,901)

(3,410)

All companies ranked according to their most recently filed accounts.

For more details on how Onyx Consultants Ltd and its Onyx Construction Marketing can help you do more work for the top house builders contact Andrew Fella 01473 743682 or visit the Onyx Website for more details.

Key Introduction Leads to Contract Award for Quinn Brickwork

Introduction Leads to Contract Award for Quinn Brickwork

Onyx Construction Consultants Limited are pleased to announce that another introduction made by them, between a valued contact at a Southern Area House Builder and one of their clients Quinn Brickwork Ltd. led to Quinn Brickwork securing a 19 unit site contract in Peterborough last month. In addition the House Builder having seen how Quinn Brickwork has performed with regards to programme and quality now wishes to negotiate the next phase of 24 units due to start shortly.

This introduction is only one of many made in the last 4 years between Onyx Construction Consultants specialist subcontractor clients and the many key placed contacts both business and personal that the directors of Onyx have at many of the House Builders, Contractors and Developers in the East Anglia and Northern Home Counties areas, leading to tenders being issued and contracts secured by our clients.

As part of the Onyx Construction Marketing service introductions to our many business and personal contacts in the industry will be made available to those subcontractors who sign up for the service and meet the criteria needed.

More details of contract awards resulting from our introductions both recent and past together with referral and recommendation letters will be posted soon on this the Onyx Construction Marketing blog and in the near future the Onyx Consultants Ltd website.

In the meantime if you feel that you would benefit from this service or know someone that will please contact us via email info@onyxconsultants.co.uk or contact Andrew Fella on 07798 640022.

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