Land, property and hotel firm Cameron Hall Developments has returned to profit after weathering the impacts of Covid.
Newly published accounts for the Wynyard-based business show it made an operating profit of £1.8m in the year to the end of December 2021, compared with a £3.1m loss in restated 2020 accounts. In April, the business - set up by property tycoon Sir John Hall - reported a large £2.6m loss on the sale of one of its properties to two of Sir John's grandchildren.
During the period turnover moved up to £2.1m from £872,000, though still well below the £8.2m generated in 2019. Writing in a report accompanying the accounts, director Sarah Antonopoulos, said: "Overage sales in the period have seen turnover increase from £871,625 to £2,109,180, with profit before tax increasing from a loss of £3,103,382 to a profit of £1,808,126. This being a result of the increase in overage sales as well as a large loss on disposal in the prior year.
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"The demand for homes on the Wynyard Estate continues to increase and with outline planning permission agreed for an additional 130 dwelling development, further strengthens the group's future profitability."
Following a unanimous decision by Stockton councillors in November last year, the firm can extend its estate west of Maynard Grove. The outline plans are on land bounded to the west by the Castle Eden walkway, to the south by the registered parkland of Wynyard Hall, and to the east by existing housing.
The proposed homes are part of a wider scheme at Wynyard Village which also includes a new primary school, business centre, and the new Glass House restaurant at Wynyard Hall. Papers revealed terms agreed with the council in return for the permission included the community centre, work to roads, £1.5m for 26 affordable homes elsewhere in the borough and almost £700,000 towards providing school places.
Separate accounts for Wynyard Hall - one of the North East's premier wedding and events venues - show turnover doubled to £2.7m in the same year. The venue also returned to profit after a turbulent time prompted by Covid restrictions.
The business - which includes the hotel, spa, restaurant, gardens and events space - returned to an operating profit of £237,222, a turnaround from the previous year's loss of £860,078.
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