Bellway right at home with deal in Leeds

Mar 11 2008 by Andrew Mernin, The Journal

HOUSEBUILDER Bellway has signed a lucrative deal with the Government to deliver thousands of new homes in Leeds.

The Newcastle developer has reached an agreement with Leeds City Council to initially build 742 new homes in the first phase as part of a long-term plan to deliver 5,000 residences in the Yorkshire city.

The deal is part of the EASEL project - a 15 to 20 year partnership to bring 10,000 more people into the East and South East Leeds areas by building 5,000 new homes.

Judith Atkinson, regional director for Bellway City Solutions, said: “Prices for two-bed apartments will start at around £110,000 and three to four-bed homes will be priced from around £130,000 – a considerable saving on the current average price of a family home across the city.

“We will shortly be establishing a sales presence on site in readiness for the first release of new homes in April.”

Yesterday’s news failed to lift the firm’s stock as shares fell 35 points to 762p last night. In six months the shares have dropped from above the 1100p mark to below 800p.