Cavanna Homes Reports a Year of Growth
Cavanna Homes, a homebuilders from the South West, has announced another year of steady growth and a record number of sites in development across its region. The Torquay-based firm, which currently has new homes for sale in seven locations in Devon, Cornwall and Dorset, will be bringing forward an additional five sites this year, including Wincanton in Somerset, making it the busiest construction year in the company’s 95 year history.
Pre-audited figures show a £64.7 million turnover in 2018 which represents a 6.4% increase on the previous year. Moreover, a total of 290 new homes were sold; 201 open market and 89 affordable homes for rent or shared ownership through a housing association. Last year’s results have been welcomed by the company, especially in light of the decline in the property market.
“It’s been well publicised that nationally the housing market has taken a bit of a downturn, and the South West is no exception. The uncertainty over a Brexit ‘deal or no deal’ is causing people to wait and see what this will mean for the country and their own personal circumstances. Whilst there has been a dip in numbers of visitors to our showhomes over the last few months, the prospective buyers we’ve seen have been extremely positive of both the quality and specification of our new homes as well as the overall developments,” explained Cavanna Homes’ Managing Director Keith Miller.
For 2019 the company has a range of new homes for sale at seven Westcountry locations: Bodmin in Cornwall and Holsworthy, Barnstaple, Stoke Gabriel, Paignton, Torquay and Newton Poppleford in Devon. Cavanna is also bringing-forward a further five new developments; Barley Meadow at Dawlish, Cavanna@Wolborough Hill, Newton Abbot, Broadleigh Park at Tavistock, Bellevue at Bude and Cales Reach at Wincanton.
“Our business plan for 2019 has been adjusted to reflect the current market conditions, especially in the first quarter,2 said Looking forward, Keith Miller. “Whilst we anticipate a slowdown, we are proceeding with cautious optimism during this unprecedented and unpredictable period.”
Cavanna Homes’ 95th anniversary was market by the launch of a new brand and a new portfolio of house styles – The Westcountry Collection – which can be viewed at new showhomes opening in the New Year at Kings Orchard – Stoke Gabriel, Alfred’s Gate – Newton Poppleford and Moorland Vale – Bodmin.