Company Profile

Based in Newcastle, Bellway has historically built over 11,000 units across the UK. With a market capitalisation of c.Stg3bn, the group is the fifth-largest quoted UK builder by unit completions and is a member of the FTSE 250 Index. With 20 divisions spread across the UK, Bellway has a roughly 50%/50% split between its North and South divisions. In the north, the group has large operations in Scotland, the north-east and north-west. In the south, the group's operations are based in the south-east and south-west and the Thames Gateway region. Bellway's housing output is split 79% houses and 21% flats. Social housing has been an important part of the group's completions over the years and has provided roughly 22% of completions per annum over the past five years. The group's target market includes first-time buyers (c.26%) and buy-to-let investors (3%). Bellway's average sales price of Stg308,000 splits into Stg347,700 for private homes and Stg186,900 for affordable housing. The average sales price in the northern region is Stg291,000 versus Stg323,100 in the south.