Ahead of this week’s Budget, the Hessle-based builder says it can act quicker than national rivals in land deals
The chief executive of East Yorkshire housebuilder Beal Homes has called on landowners to come forward with potential sites. Richard Beal, who leads the family-owned developer, says he is on the lookout for land which could help local authorities meet building targets set by Government.
Ahead of the Chancellor’s Budget this week, Beal has drawn attention to pressure mounting on Rachel Reeves to stimulate demand in the housing market and support housebuilding. That comes as local authorities have sped up allocation of areas for housebuilding in the Local Plans in response to the Government’s target to deliver 1.5 million homes by 2029.
Mr Beal said: “Local authorities are urgently reviewing the housing allocations in their Local Plans, in response to the Government’s demand to accelerate the delivery of new homes. This reflects the pressing need for increased home building, to enable more people to get onto the housing ladder and to stimulate growth in the stagnant UK economy.
“We’re actively on the lookout for more development sites and we’re calling on landowners to come forward to respond to the opportunity presented by the increased housing allocations. We’re ready, willing and able to work with more landowners to bring forward developments that rise to the challenge of getting more high-quality new homes built.”
East Riding of Yorkshire Council is expected to boost its annual target from just over 800 new homes to almost 2,000, while North East Lincolnshire is likely to raise its requirement from under 200 to over 600. Beal says that as an independent operator it is well placed to work with landowners to bring forward sites promptly.
Chris Murphy, Beal’s land director, said: “Unlike national housebuilders, we can make quick decisions on acquisition opportunities and be flexible in the way we structure land deals. The quality of the homes we build also tends to command higher sale prices, which is reflected in land values.
“Crucially, landowners we work with can be confident that we will deliver developments of exceptional quality that enhance the local community and leave a legacy that they can be very proud of.”
Beal currently has submitted plans for three developments in East Yorkshire and Hull, totalling 625 homes, at an investment of more than £170m. These are the latest sites for the developer which has delivered about 1,500 new homes, over three decades, in the Kingswood area of Hull, with permission for another 450 properties.
The firm says the developments have stemmed from a long-term partnership with landowner Central Land Holdings, formerly the Kingswood Parks Development Company. John Briggs, managing director of Central Land Holdings, said: “Since our first land transaction with Beal Homes in 1994 we have negotiated and completed numerous interesting and complex deals.
“During this time we have built a special relationship based on honesty, trust and integrity, with a developer that delivers what they say they will, every time.”