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14
Oct 2023
North Yorkshire housing companies estimate end of year profits
Two North Yorkshire Council housing companies are estimating to report a profit by the end of this financial year.
Brierley Homes and Bracewell Homes are expected to post improved performance after completing further sales, according to a council financial report.
Both companies were taken over by North Yorkshire Council in April 2023.
Bracewell, which is a former Harrogate Borough Council firm, is forecasting a profit return of £1.52 million by the end of 2023/24.
A report said the company had seen sales of shared ownership properties and the “receipt of rental income on the proportion retained within the company”.
However, it added that Bracewell was still awaiting the completion of purchasing a further two sites.
It said:
Read more:
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- Harrogate’s Royal Baths: the council’s under-performing ‘trophy investment’
- Council predicts loss-making Brierley Group will return to profit
Meanwhile, Brierley Homes, which was set up by the former North Yorkshire County Council, is forecasting a profit of £959,000 by the end of the year.
The figure is based on the company completing sales at sites in Marton cum Grafton, Pateley Bridge and Great Ouseburn.
Meanwhile, the firm is expected to start work on another housing site in Kirby Malzeard this year.
It comes as the council reported a “positive outlook” for the company in March amid an increase in sales.
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