Gillespie Macandrew advises on £285m of new build plot sales
Gillespie Macandrew completed new build plot sales worth £285m in 2019, representing an increase of 60% on previous annual sale value and representing over 10% of all private new build house sales in Scotland.
Scotland is undergoing a programme of new housebuilding with 21,292 new build houses completed in Scotland in 2018-19, an increase of 3,669 homes (21%) on 2017-18 when 17,623 were completed. Of these, around 12,000 were private house sales. As the sixth consecutive annual increase since 2008-09 it demonstrates a trend which will continue despite market conditions.
The Firm’s total plot sales reached 1,197 against 717 the previous year despite a challenging climate for the housing market as a whole. The increase can be attributed to continued investment in the team and the strength of its reputation among major UK housebuilders, as well as the increasing number of new homes under construction.
Harry Smith, Head of Housebuilder and Construction at Gillespie Macandrew, comments: “Despite the current challenges facing the housebuilding sector, 2019 was a record year in terms of delivery for our clients. During 2019 we acquired a paralegal team from Dentons which further strengthened our offering as a leading provider in our sector. We continue to act for some of the largest and most active housebuilders in the UK and we remain positive about the market overall.”
Gillespie Macandrew’s housebuilder team undertakes negotiations and delivery on strategic land acquisition, infrastructure requirements and new build sales across Scotland.