A developer has seen business boom with turnover, completions and job numbers all rising rapidly.
Headquartered in St Asaph, Castle Green is currently tracking ahead of its five-year budgeted growth plan and is well on its way to quadrupling the size of the business by 2025, following the management buy-out of Macbryde Homes in 2020.
Its latest figures show turnover was up 44% to £78 million in the 12 months to March 31.
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The number of homes legally completed was up nearly a third to 280, while job numbers increased by 27% to 80 over the same period.
Chief executive Gwyn Jones, who led that buy-out with backing from long-term finance partner Bridgemere UK, said: “This is another truly fantastic set of results.
“I am very proud of the whole team and what we have achieved together; success has clearly become a habit and part of the Castle Green culture, which puts us in great shape to move forward.
“In the current financial year we’ll be bringing forward a new wave of larger, prestigious schemes, which will take the business to the next level and propel legal completions to over 500 by 2024.”
During the year, Castle Green opened a new regional office, in Preston Brook, Cheshire, to maximise the potential for further expansion in the north west of England.
With approximately 7,780 sq ft of floorspace, this office has the potential to accommodate 70 employees.
The last year saw completion of the first development delivered through the company’s ‘Partnerships’ brand – 24 homes for mixed tenure at Millington Fields, in Drury, Flintshire, jointly with Welsh housing association Adra.
Currently Castle Green has new homes available in Dyserth, Denbighshire, and Warrington, Cheshire, with new developments coming soon to Penyffordd and Wrexham, in North Wales, Thornton, near Liverpool and Daresbury and Congleton, in Cheshire.
There were also 1,000 plots added to the land portfolio to be brought forward onto site in the next 12 months.
One disappointment has been the rejection of plans for more than 100 homes in Denbigh by planners - although it is understood an appeal is now being considered.
When it comes to its green credentials the company finalised a net-zero plan that illustrates a potential path to reduce emissions by at least 50% by 2030; and offset residual emissions for the 2020-21 financial year via verified projects, enabling the business to declare carbon net-zero status.
Last month Gwyn Jones also took the David Williams Judges’ Choice Award – Sponsored by ADRA at the prestigious Daily Post Business awards at Bangor University in recognition of his success at the helm of the business.
