tag:blogger.com,1999:blog-3073407284049404043.post3346583736339365245..comments2015-02-03T08:56:06.233-08:00Comments on My Little House Horror, Persimmon Homes, Charles Church (read more click here): Explain difference between a 1980's and year 2000's Charles Church New Homet.smithhttp://www.blogger.com/profile/14438954161854354530noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3073407284049404043.post-57488920637507236352009-08-28T09:39:47.516-07:002009-08-28T09:39:47.516-07:00FULL Story Quoted from above Link
Beazer pays 35....FULL Story Quoted from above Link<br /><br />Beazer pays 35.7m for Charles Church<br />16 May, 1996 | By BILL FISHLOCK <br /><br />CONSOLIDATION in new house building stepped up this week as Beazer bought the up-market house builder Charles Church.<br /><br />Beazer is paying The Royal Bank of Scotland 35.7 million for Charles Church, which built a reputation for flint stone homes around its base in Camberley, Surrey.<br /><br />The average selling price of the 193 homes which Church sold last year was 190,000, compared with just 67,000 for the 6,700 or so which Beazer builds.<br /><br />Beazer chief executive Dennis Webb said Church offered a unique opportunity to buy a company which fitted its strategy to move into an upper market.<br /><br />The Church brand,likened by Mr Webb to Jaguar operating within Ford, is to be retained and the company hopes to expand the operation nationally.<br /><br />Beazer hopes to expand Charles Church threefold to build 500-600 units annually over the next four to five years.<br /><br />All of Churchs senior management and the firms four executive directors will also stay with the new owner.<br /><br />The firm owned 593 plots of land, a further 214 committed plots and options to acquire a further 6,500 plots across southern England.<br /><br />Mr Webb said an ageing population and the prospect of more inherited wealth meant the exclusive homes market would look increasingly promising towards the year 2000.<br /><br />Church made profits before interest of 4.1 million on sales of 34.7 million in the year to last August. Trading since the year end had been similar to last year.<br /><br />The deal marks the end of a chequered history for Charles Church, which made profits of 18 million on the sale of 557 homes at its peak in 1988.<br /><br />The firm has laboured under heavy debts since its founder, Charles Church, took the company off the stock market before he died when his Spitfire aircraft crashed in 1989.<br /><br />The Royal Bank of Scotland took control of Church earlier this year, paying some 22.6 million. The Bank was one of a syndicate of 16 banks to which Church was heavily indebted.<br /><br />Mr Webb denied that Beazer, which is paying some 3 million for goodwill, was over-paying for Church. He is aiming to increase its gross margins towards the 17.5 per cent level achieved within Beazer.<br /><br />Referring to Beazers current trading, Mr Webb said the company had not seen the market fall away in April and he was happy with the current level of net reservations.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3073407284049404043.post-55143545667811444982009-08-28T09:38:01.716-07:002009-08-28T09:38:01.716-07:00Beazer paid 35.7m for Charles Church back in 1996,...Beazer paid 35.7m for Charles Church back in 1996, article here. http://www.cnplus.co.uk/news/beazer-pays-357m-for-charles-church/947819.articleAnonymousnoreply@blogger.com