PHPD recently met with Paul Beaney, strategic director of Lofthouse Residences, to find out more about the current state of luxury housebuilding and why he decided to trade in a comfortable semi-retirement for a return to the sector.
What are your perceptions of today’s market in general? Where are the big opportunities – or the major barriers to progress?
Demand for quality homes remains strong, particularly driven by a lack of supply. However, build cost inflation, rising interest rates and cost of living increases will likely temper demand somewhat in the second half of 2023.
In terms of regulations, what needs to change? And given the current planning farrago, what would you like to see from the NPPF?
The planning system needs to be reviewed. Currently the time it takes to get an application through planning and the red tape involved is ridiculous. It’s crippling the industry, will put some firms out of business and is depriving people of much needed housing.
What is your philosophy in terms of upmarket housebuilding?
I’ve had a passion for every property I’ve built – I build it as if I’m building it for myself (which I have done). I don’t want to waste money, I don’t want to do things twice. No cutting corners, and ‘good enough’ never is. Value engineering is key – building the best quality property for the best price.
How much potential do you see for Lofthouse Residences?
I believe we can differentiate ourselves, even in the luxury housebuilding sector. We’re very well-funded, which provides the flexibility to grow with confidence. There is a deeply felt passion for doing things right among David [Lofthouse] and his team, which I totally buy into. I’m really looking forward to the years ahead, helping to put Lofthouse on the map and establishing it as the Bentley of UK luxury homebuilding.
What does being a Strategic Director involve?
It’s conveniently ambiguous! It gives me free rein to get involved in pretty much anything I like, from high-level strategic direction to sourcing suppliers, sub-contractors, architectural and land contacts, and much else besides. I’m genuinely excited to get back to the stage of my career that I really enjoyed – being on site, hands-on, helping to make amazing properties happen and grow the business.
You then took early retirement in 2020, but recently came back to work for Lofthouse. Did the golf course lose its appeal?
Not really. I did enjoy working on my handicap, as well as travelling and spending more time with the family. Maybe it was being so heavily involved in the building of my own home that reminded me that I still have sand and cement coursing through my veins.
But I always enjoyed working with a passionate team of like-minded people, and I recognised plenty of them in Lofthouse. I was eager to get involved, but it had to be properly hands-on – I wanted to contribute practically to the growth of the company rather than have a typical non-executive director role involving one day’s work a month and a decent lunch.
For more on Lofthouse Residence, go to www.rdr.link/xxx
If you’d like to share your thoughts on housebuilding today, contact us at phpd@hamerville.co.uk.
