Mount Anvil’s focus on design-led developments and working in partnership has helped deliver an impressive set of annual results. A long-term focus and partner-led approach is delivering significant benefits for Mount Anvil and our partners. We generated profits of £55 million, from a turnover of £251 million for the year ended 31st December 2016; £43 million for our joint-venture partners and £12.6 million for the Mount Anvil Group¹. We are projecting to generate a further £258 million partner profit over the next five years².
We are proud of our repeat joint ventures with leading housing associations, including A2Dominion, One Housing and Clarion Housing – who reinvest the majority of their profit share back into affordable housing for Londoners – along with Ares Management, who completed their 18th deal with us in 2016.
Since the year end, we have exchanged on, or in the process of acquiring, a further 3,250 new homes to our pipeline – taking our total pipeline to over 4,100 homes. This will see us collaborate with existing and new partners, including L&Q, Peabody Group, Hyde Group and Sainsbury’s over the next three to five years.
As a world-class city, demand for London property and for our homes remains very strong; with 89% of our 2017 sales target already secured we are projecting a turnover of £340 million in 2017.
We are delighted with the success of our strategic approach in 2016, which has enabled us to deliver exceptional financial results for both Mount Anvil and our partners.
Read more about our track record of success.
¹Mount Anvil undertakes the majority of development activity through joint ventures. We manage each of these joint ventures on behalf of our partners, and therefore the true scale of the Group’s activities and profit generation is demonstrated by the gross development turnover of £251 million and profit before tax of £55 million generated by our development activities.
²Based on schemes currently owned and controlled.