Member Article

Gentoo Homes marks strong sales year with new development plans

A strong sales year, which included the launch of eleven new developments across the region, has delivered record results for North East house builder Gentoo Homes.

The Sunderland-based developer sold 162 new homes from Prudhoe in the north of the region down to Guisborough in the south of the region, grossing turnover of £35.5m.

The news comes at the same time Gentoo and the Homes and Communities Agency (HCA) have agreed a £22m finance deal which will see the company develop 400 new homes for sale and for rent across the North East.

Gentoo Homes, which is the residential property development arm of Gentoo Group, secured planning permission on 657 plots during the 2015/16 financial year.

Colin Wood, Director of Gentoo Homes, said: “We are delighted to have built on previous years successes and the record level of turnover demonstrates our customers’ confidence in the quality, design and locations in which we deliver.

“Gentoo is rooted in the North East and we continue to be committed to building high quality sustainable homes to help meet the region’s housing demand.”

Gordon More, Head of Investment at the HCA added: “This Loan will help ensure that Gentoo can continue to provide much needed new homes for local people for the next three years. The range of home types that will be built will provide real choice for home owners.”