NuGen Properties

Countryside allocates £19m for fire fix squad

Countryside allocates £19m for fire fix squad


Countryside has 123 buildings constructed within the last 30 years that it has promised the government that it will fix. Cladding needs replacing and other fire safety fixes are required.

“Due to the extent of the remediation works, a new standalone division has been established to manage and deliver the programme,” the company said today. It has set aside £19m for the cost of the new division, which is expected to take 10 years to complete its mission.

In its half-year accounts, the company has made a further £109m provision for remediating buildings. This is in addition to the £41.0m provided for in 2021, taking its total provision for fire safety to £150.0m.

Partly as a result of this, Countryside made a pre-tax loss of £181.5m for the six months to 31st March 2022 on revenue of £602.2m. (In the same period last year it made £38.8m profit on £661m revenue.)

“The quantification of the cost of these remedial works is inherently complex and depends on a number of factors including the size of the building and the cost of investigation, replacement materials, associated labour, and the potential cost of managing the disruption to residents,” the board said. “We have calculated our provision based on past experience of remediation costs and the best information available to us.”

Countryside claims to be the market leader in house-building partnerships with housing associations, public bodies and institutional private rental operators.

Got a story? Email [email protected]



Source link


Customer Reviews

Nugen Properties

Customer Reviews

Dan Morten 18/01/22

Google
Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

Google
NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Google
Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Google
Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Google
Great firm to communicate with fast and good quality work.