Crest Nicholson home sales down in commercial strategy

Emma Rosser | Print

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Essex Brewery Walthamstow
Housebuilder Crest Nicholson has seen home sales decline as it focuses on releasing cash through land sales, commercial activity and joint ventures. The company reported a 4% decline in residential sales, but an uptick in partnerships and commercial activity driving growth, in a trading update for the six months ended 30 April 2019. Residential sales to date and forward sold for the 2019 financial year stood at £715m, compared to £745m for the same period in 2018. Commercial deals and joint ventures delivered £77m in revenue for the full year, five times the £15m generated the previous year. Revenue to