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£1 million profits hope for S Harrison Developments Ltd
THE York property group in charge of the city’s new council headquarters project has announced it is on track for a £1 million profit.
S Harrison Developments Ltd has led the transformation of West Offices, on Station Rise, into a civic base and customer centre for City of York Council, and has now handed over the keys to the listed building to the authority.
Managing director Ann Scott said the firm was poised to report pre-tax profits of about £1 million for 2012, with its full results for the year due in April, and is “strongly placed to face the challenges which the next few years hold for the property sector”.
Malton-based S Harrison, with its development partners Buccleuch Property, has also this year completed the £10 million Hampton by Hilton hotel next to the new council HQ and started work on its third student accommodation scheme in the city, a 258-bed site on Carmelite Street for York St John University, to be completed in 2013. The company is also involved in the redevelopment at Hungate that will see insurance firm Hiscox bring hundreds of new jobs to York.
Ms Scott said: “Business confidence generally remains low, but there are signs of revival. A look at the take-up of space at our office and warehousing development at Escrick Business Park suggests there are businesses out there which are thriving and willing to invest. It is vital the banks make money available to small and mediumsized businesses on reasonable terms to drive the nation’s recovery.
“Our measured growth, underpinned by a sound balance sheet, puts us in a strong position to capitalise on the opportunities which undoubtedly exist out there. I believe we have the team and the reputation for delivery which will continue to make us appealing development partners throughout 2013 and beyond.”
S Harrison Group chairman Martyn Harrison said: “In these tough times, clients are looking beyond the promises of developers and looking harder at their track-record of actual delivery.
“Our reputation for delivering schemes in challenging locations and circumstances is paying dividends not just in our Yorkshire heartlands but further afield.”
Ms Scott was appointed group managing director this year having joined the business as financial director in 2003, collected the Women in Enterprise accolade at The Press Business Awards 2012, with S Harrison also picking up the Think Green award for its work in sustainable development.