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MJ Gleeson toasts rising sales

new-gleeson-homes-THUMB.jpegUrban regeneration specialist MJ Gleeson sold 34% more homes in the 12 months to the end of June than in the previous period, according to a trading update from the company.

In total, it sold 751 homes, mostly in the North of England, helping to improve the overall profitability of the company.

The company has a forward order book valued at £43.9m for 337 homes, up on the 356 in the prior period, and remains on target to build 1,000 homes this year.

The strategic land side of the business has sold two sites over the year with planning permission for 132 plots on one site and another of 100 acres for commercial use.

Thirteen other sites with planning permission or resolutions to grant consent, will deliver 1.950 plots, three care homes and 40 assisted living units.

There are a further seven sites with planning applications in progress.

In total, the company has 69 strategic sites in its portfolio.

The company will publish full-year results in September.

mike.cobb@estatesgazette.com

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