Warwick property company sets record for house sales in its 72-year history

Published by

Nicky Godding

A Warwick property development and investment company has set a new weekly record for house sales in its 72-year history after re-opening its sites due to Covid-19.

AC Lloyd Homes, which was established in 1948, has had a surge in property sales since the Government announced the stamp duty holiday in July.

At ‘The Mews’, which is part of the Kingswood Place development in Lapworth, they have just sold three of the most expensive houses in AC Lloyd’s history – the large five-bedroom modern designed properties are the jewels in the crown of the flagship development.

AC Lloyd’s busy sales team also sold two homes at its new development called The Cricketers at Radford Semele and two properties at Victoria Point in Leamington to make it a historic week in the company’s history as homes totalling more than £6 million were sold.

Alistair Clark, managing director of AC Lloyd Homes, said it was a milestone moment in their history particularly considering all the current circumstances surrounding the Coronavirus pandemic.

He said: “I have worked at AC Lloyd for 37 years and it is the first time we have marketed a home for in excess of £1 million.

“To have sold all three homes in this price bracket at The Mews within seven days is amazing and it is testament to their individual design and the high quality of workmanship on these stunning properties.

“All three homes have been sold to local people who are moving to Lapworth from other parts of the Coventry and Warwickshire area since it is a great place to live and there will be a positive knock-on effect in the local economy as the development becomes fully occupied.

“For the AC Lloyd team to achieve record sales in one week is very impressive especially considering we had to close all our construction sites in March when lockdown began.

“We opened up again gradually following Government advice on social distancing and it is now appointment-only at our sales offices and show homes to protect everyone.

“Our sales staff are now working hard with the purchasers on the completion of their dream homes so that they can move in as quickly as possible and start enjoying living in their new surroundings.”

He added: “The Chancellor’s decision to increase the stamp duty threshold from £125,000 to £500,000 has been a massive boost to the construction industry post-Covid-19 – the savings are quite substantial with a house selling for just below £500,000 making a stamp duty saving of around £14,000.

“The stamp duty holiday will also benefit the retail sector as house purchasers will have more money to buy new furniture and goods, and spend money in the local economy so it is a win-win on many levels.”

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.