OHOB profit grows despite ‘planning delays’
Summary
OHOB Holdings reported higher pre-tax profit despite a significant fall in turnover, which the company attributed mainly to planning delays affecting tall residential schemes while Building Safety Act-related regulations were resolved. The group said profit was supported by successful final account completions and expects revenue to recover as delayed projects progress.
Why it matters
The article highlights how Building Safety Act-related planning and regulatory delays can affect the delivery pipeline for taller residential schemes. Surveyors involved in development, due diligence, valuation or project monitoring should note the potential knock-on effects on programme, cash flow and market activity.
Key points
- Pre-tax profit rose to £25.1m despite turnover falling to £293.7m.
- OHOB said planning delays linked to the Building Safety Act reduced activity on tall residential schemes.
- Profit was supported by successful final account completions.
- The company expects revenue to return to previous levels over the next two years as delays ease.
- OHOB has expanded into urban residential development through Parklife Partnerships Limited.
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