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Orbit Homes posts strong results

Orbit Homes has posted strong end of year results, developing 865 homes in 2013-14 against a target of 830. Current projections for 2014-15 show a marked increase in completions, with a target of 1300.

Of the 865 homes developed in 2013-14, 585 were for rent, 169 for shared ownership and 111 for market sale.

Revenue figures in 2013-14 were also strong, with 106 market sale homes bringing in revenue of just under £21 million, and 165 shared ownership homes giving first tranche revenue of just over £14 million.

Within 2013-14 the Orbit Help to Buy Agency achieved over 4,000 completions, across its (then) regions of West Midlands, Norfolk, Suffolk, Cambridgeshire and Bedfordshire.

Orbit also completed over 200 Mortgage Rescues in 2013-14.

Paul High, Executive Director Orbit Homes, said: “We work hard to be a developer of choice, coupling a commercial approach with our social purpose; our end of year figures are testament to the success of this approach and to the hard work of the Orbit Homes team to provide the homes and housing choice this country needs.”