Strawberry Star is pushing ahead with a £500m pipeline, having halved its goal of delivering 4,000 new homes by 2025.
The London developer has slashed its plans following a challenging sales period which saw it fall into the red. While it has focused on reducing overheads, Strawberry star has also faced construction delays owing to Covid-19 site closures.
Strawberry Star is now progressing with plans for 2,000 homes across four schemes. It has appointed Irish construction giant JJ Rhatigan to deliver the projects, which are all expected to include build-to-rent homes.
A spokesman said: “Strawberry Star is making good progress towards our vision, which was re-evaluated in light of Brexit and Covid-19. Taking a more conservative approach, we plan to deliver 2,000 homes by 2025, with nearly 1,000 homes already in planning or under construction.
“Our large schemes and future projects will be a mixture of BTS and BTR. Strawberry Star remains responsive and ready to adjust to market conditions and changes.”
Strawberry Star will work with JJR to deliver phase two of its flagship Luton scheme (pictured) alongside others in Wembley, Harlow and Kenton by 2025, with new developments expected to come forward this year.
Santhosh Gowda, chairman of Strawberry Star, said: “By forging this long-term alliance, we can leverage each other’s strengths wherever necessary and significantly enhance our delivery capabilities. The partnership will shape our business for the future.”
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