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18
May
Brierley Homes set to report £7.5 million loss
North Yorkshire Council’s housebuilding firm Brierley Homes is set to report a £7.5 million loss for 2025/26.
The council had budgeted for a £704,000 profit for the year.
But it now attributes the multi-million pound loss to sales income being “significantly under projected levels".
It said:
"This is a further deterioration in the position and is driven by sales income being significantly under projected levels; increasing costs to complete sites and delays in the completion of homes leading increased overhead and interest costs."
The financial position is outlined in a report for the Conservative-controlled council’s executive next week.
The £7.5 million loss is more than double the reported loss for the previous year.
Brierley Homes, which was founded in 2017, is part of the Brierley Group of 12 companies owned by the council.
It oversees housing developments across the county. Current projects include Laverton Oaks at Kirkby Malzeard, The Paddocks at Great Ouseburn and Yew Tree Farm at Marton-cum-Grafton.
Meanwhile, the Brierley Group as a whole is expected to post a profit of around £3.1 million.
The forecast includes companies such as Yorwaste, Align Property Partners and NY Highways posting profits.
Houses built by Brierley Homes, the council-owned housing company.
Brierley Homes has been criticised by councillors for being too reliant on council loans to help its cashflow issues.
The council’s most recent decision in March saw it approve a £300,000 drawdown from a £27 million loan facility for the firm.
The council said the loan will be paid back back at a commercial rate of interest.
On multiple occasions, the authority has cited the need to allow the company time for sales to be received as a reason for approving further funding.
However, several councillors, including Cllr Kevin Foster, leader of the Green and Independents group on North Yorkshire Council, have questioned how the council can justify further money for the company.
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