Crest Nicholson is well placed and sufficiently capitalised to take advantage of the long-term growth opportunities in the Southern England housing market. Our Group strategy seeks to build on our strengths and address the challenges we face, and consists of five strategic priorities:

1. Placemaking & Quality

Creating attractive and vibrant communities with a focus on sustainability is what we do well.

Crest Nicholson enjoys an enviable reputation for its placemaking skill. We will continue to focus our investments on high quality locations and invest in placemaking and design that is valued by our customers and communities.

2. Land Portfolio

We have a well located, flexible land portfolio with a weighting in Southern England where demand is high and supply is more constrained. Our short-term land portfolio provides us with a good supply of land for our forecasted business needs.

We prioritise utilising our land portfolio first for our own operational needs with an aspiration to increase the number of sales outlets. We then look to deliver combination schemes of private open market units and bulk deals with the Private Rental Sector (PRS) or Registered Providers (RPs), potentially delivered via a joint venture vehicle. Disposal to a third party is our final consideration.

3. Operational Efficiency

We are focused on working in a disciplined manner and increasing our focus on operational efficiency by delivering central efficiencies, aligned to operational need and reducing administrative expenditure.

4. Five-Star Customer Service

We have embedded a ‘right first-time’ culture and are focused on improving delivery of homes and after sales service with a stronger emphasis on site teams having direct responsibility for quality.

Quality is at the heart of everything we do and we have placed a much stronger emphasis on site teams having more direct responsibility for quality, with the divisional based customer service teams providing any necessary aftercare. We are delighted to have been awarded five-star housebuilder status by the Home Builders Federation (HBF).

5. Multi Channel Approach

We are building on our capabilities to deliver homes with partners such as the public sector, PRS providers and RPs.

We have been doing this for some time and we aim to build on our reputation as a trusted partner. We have established an experienced team in our new Crest Nicholson Partnerships and Strategic Land division to lead this work, aiming to increase the sales contribution from our multi tenure business to 15% to 20% over the medium term.

OUR FOUNDATIONS

Our strategic priorities are underpinned by four foundations:

Safety, Health & Environment

This is our number one priority as we strive for continuous improvement and set the target to be among the industry leaders for safety performance.

Sustainability & Social Value

We must effectively respond to the social and environmental issues facing society. The nature of our business means we can make a sizeable positive contribution, both environmentally and socially, through our operations and the creation of new homes and communities.

People

The quality of our people and the decisions they make are fundamental to the successful implementation of our strategy. We will continue to focus on the diversity of our workforce and embed the values that will strengthen our culture.

Financial Targets

Our strategy focuses on maintaining an efficient operating model that converts our land into developments which deliver attractive returns, by way of increased margins and return on capital employed.