STRONG FUNDAMENTALS FOR UK HOUSING MARKET
- Market demand underpinned by growing population and limited housing supply
- Complex planning system favours experienced housebuilders with broad range of capabilities and knowledge of local market
- The lending environment remains supportive with competitive supply of mortgages.
ATTRACTIVE LAND PORTFOLIO
- High quality and desirable land portfolio, primarily concentrated in Southern England, with new sites being added in new regions of the UK
- Extensive strategic land portfolio is predominantly held under option and represents excellent capital efficiency
- Strong financial position enables us to remain active in acquiring land in competitive environments
BRAND SYNONYMOUS WITH QUALITY AND GREAT PLACEMAKING
- Established brand name with strong heritage associated with quality and customer service
- Strong reputation for placemaking and for creating attractive, sustainable communities
- Opportunity to offer more customers the chance to own a Crest Nicholson home across the UK.
DIVERSIFIED SOURCES OF INCOME
- Our Multi Channel Approach provides resilience by delivering income from a variety of sources and capital
- Private Rented Sector (PRS) is a well-capitalised, growing asset class providing dependable yields
- Dedicated Partnerships and Strategic Land division maintaining strong relationships with Registered Providers and PRS partners.
CLEAR RESPONSIBILITIES TO SOCIETY AND THE PLANET
- Committed to net zero emissions by 2045 and established interim science-based targets covering scope 1, 2 and 3 emissions
- Reducing our waste and minimising our impact on natural resources
- Increasing procurement of renewable electricity to 100% by 2025.
ROBUST BALANCE SHEET WITH MARGIN RECOVERY PLAN ON TRACK
- Strong balance sheet with year end net cash position of £276.5m and a renewed £250m revolving credit facility
- Disciplined and selective approach to land acquisition and capital allocation
- Sustainable dividend cover on two and a half times cover basis.