04 Oct 2019

Housebuilder Mount Anvil posts sales rise as London construction starts climb

Housebuilder Mount Anvil posts sales rise as London construction starts climb

London property developer'Mount Anvil'on Thursday defied Brexit gloom to report sales growth, and said it has started construction on a record 1000 homes this year.

That is the highest number of flats it has started work on in a year since it was founded in 1991 by boss and majority shareholder Killian Hurley.'

Commitment to build comes despite industry jitters, with concerns pricing and demand could fall once Britain leaves the EU.

Hurley told the Evening Standard: 'While we recognise the challenges of the current market, we have the ambition and capacity to grow our business significantly.'

He added: 'London remains a world-class city with a growing population, so in our experience demand will always follow.'

The firm's projects are in partnerships, such as with housing association Peabody for new homes in Bow.

Mount Anvil's turnover, which includes joint venture work, increased 7% in 2018 to '241.8 million.

Pretax profit decreased to '9.7 million from '10.9 million.

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Source: Evening Standard


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