Published On: Wed, Jun 13th, 2018

Crest Nicholson shuts office | City & Business | Finance

Revenue was up 13 per cent to £473.8million.

Chief executive Patrick Bergin said: “Our experience of generally flat pricing against a backdrop of continuing build-cost inflation has had an adverse impact on margins. We will invest in areas of greater housing affordability.

“We’re preparing also for a world where, even if the Brexit solution is to allow reasonably free flow of people with work in the UK, that just the net reduction in attractiveness might limit the number of EU workers coming to work here.”

Crest Nicholson is looking to build the light steel gauge inner walls of its houses offsite and then deliver them to sites. It hopes that 10 percent of its work next year will use some kind of offsite building.

“If we can prove that model – and we believe we can – then I would probably expect to step that up in 10 percent increments over the first few years so that, actually, fairly quickly, you get to 20 percent, 30 percent of your output coming through this way and maybe ultimately 50 percent to 60 percent,” Mr Bergin said.

“What you end up with is a house that looks and feels very traditional but the offsite manufacturing has enabled you to erect it at a far greater speed and enabled you to work concurrently on both the inside and the outside so that you’re less beholden to bricklayers and scaffolders.”

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