Croudace Homes announces ten-year growth strategy
Croudace Homes has announced an “ambitious” ten-year growth plan to more than double turnover by 2033.
Under CEO Adrian Watts who was appointed in June 2023, the south east England housebuilder plans to raise its turnover from its current ￡200 million to ￡500 million.
It intends to open a Midlands office – an area the business will be building in for the first time and adding to its regions of Caterham, Letchworth and Theale, the latter of which was opened recently.
Croudace aims to increase its development portfolio from 600 homes per year to around 1,200 across all regions.
Watts took over from Russell Dennes in June of last year; Dennes announced his retiremnet after nine years as its boss. Previously Croudace’s group deputy ceo from May 2022, Watts joined as md of the North Thames region in 2019.
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Prior to Croudace, he held director positions with Bellway, Redrow and Persimmon.
He said: “Historically, the business has always looked five years ahead, but as we are targeting ambitious figures, it felt prudent to deliver a longer-term plan. We are pivoting our operations in a number of ways, such as increasing our long-term strategic land, investing in sustainable construction methods, and expanding our development patch across the entire south of England, and eventually beginning to head north to the Midlands.
“A change of government has reinvigorated the housing market, particularly for SMEs such as ourselves. The proposed measures to the industry, in particular a reform of planning regulations, will reduce time-intensive and frankly expensive applications and instead incentivise developers to press on and deliver great quality homes.”
Croudace Homes was established in 1946. It currently has more than a dozen live schemes, ranging from larger sites such as the 830-home Hermitage Park on the edge of ancient woodland in Maidstone, Kent and a 600-home mixed-use scheme, Willowbrook Park, in Didcot, Oxfordshire, to more boutique developments including Wisteria Gate in Romsey, Southampton.