Croudace plans Midlands push in new growth strategy

Croudace Homes is planning a push into the Midlands as part of an ambitious growth strategy. The SME housebuilder, which is heavily invested in the south of England, with sites in Caterham, Surrey; Letchworth, Hertfordshire; and Theale, Berkshire, wants to more than double its turnover to £500m by 2033, delivering more than 1,200 homes per year. Chief executive Adrian Watts said the group wanted to expand its development patch across the entire South of England before heading north to the Midlands. He added that the group would also be increasing its investment in long-term strategic land and in sustainable methods of construction. The growth ambitions come as the Labour government seeks to deliver 1.5m new homes within five year, upping the annual target to 370,000. He said: “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 currently delivers around 600 homes a year. Last year it turned over £172m, a 27% drop on 2023 as planning delays hit its ability to bring new developments into production.