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23 June 2008

South-east expansion for Regalpoint Developments

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by Lin Freestone

South-east expansion for Regalpoint Developments

Regalpoint Developments, a Sevenoaks-based company specialising in new build, houses and apartments, has acquired a major portion of the portfolio of Silver Homes of Crowborough.

A £20m rescue package for the restructuring of Silver Homes’ sites in east Sussex and Surrey fits well with Regalpoint’s expansion plans. Surrey housebuilder, Prism Homes, was acquired a year ago as part of Regalpoint’s expansion across the south-east of the country.

A planning application will be submitted to Wealden District Council for 48 units at Wadhurst College in Sussex, providing 50,000 sq ft of residential accommodation. The developments already started by Silver Homes will carry Regalpoint branding.

Together with other developers and builders, Regalpoint has urged the government to do more to help builders meet housing targets.

Since the announcement of a package of measures to help revive the market, including extending the Homebuy Initiative allowing first-time buyers the chance to own a share of a house rather than buying it outright, a further £200m has also been promised to buy unsold new homes.

Tony Porter, the managing director of Regalpoint, believes that the allocation of £200m to buy unsold new homes across the UK is not enough.

He has called for the Stamp Duty thresholds to be reconsidered, and a review of land release and greenbelt policy.

It is considered that measures such as these would stimulate the market and encourage building companies to invest in the development of new sites.

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