Crest Nicholson is a second tier British housebuilding company based in Chertsey, Surrey. Crest Nicholson Plc became a private company on 3 May 2007. The Company was acquired by Castle Bidco Ltd, a 50:50 joint venture between HBOS and West Coast Capital which is partly owned by Sir Tom Hunter. Crest Nicholson operates in the South of England, the Midlands and Wales. Turnover for the year to 31 October 2006 was £690.7 million, with profits of £80.1 million before tax and £57.6 million after tax.
Criticisms
Crest Nicholson has experienced recent criticism for ruthlessness and lack of social responsibility following eviction of a family from their boat home by Crest Nicholson Marinas[1] and for refusing to interact with a local residents association in relation to a planning application.[2] The Residents Association, based in Cambridge in the United Kingdom, has also revealed Crest Nicholson applied to the First Secretary of State to dispense with the obligation for an Environmental Impact Assessment attaching a Section 106 agreement and traffic report[3], but no third party details relating to soil contamination or groundwater pollution on the site.[4] The requirement for an environmental impact assessment was waived by John Prescott.[5] A letter from the Environment Agency dated October 23rd 2006[6] suggests unsafe levels of Total Petroleum Hydrocarbon contamination remain on the site. Crest Nicholson also has some questionable advertising policies. In two recent "News" articles on their website[7][8] they have used quotes from two sales employees (Gina Buckley and Stuart Girvan) without stating that they are employed by the company to sell or manage the sale of Crest Nicholson properties. Crest Nicholson have also upset residents in a Cotswold village by ignoring requests by the local community for a review of serious issues associated with a development in Woodmancote near Cheltenham. Local resident have repeatedly requested meetings with Crest Nicholson to discuss what is seen by many as a local eyesore. A Downing Street E Petition has been started by residents in order to force a central government review of the planning decisions that led to the development. [9] Crest Nicholson have caused purchasers of their properties several problems due to shifting completion dates. On Crest Nicholsons Avante development several houses had their completion date changed from the 31st of October to the 16th of November in the afternoon of the 30th of October (the day before the completion was due). This has caused the need for some people who were due to move into the affected houses to find accommodation at short notice. Crest Nicholson have taken reservation fees and then shifted the anticipated completion date for some houses by several months. At least three plots on their Avante development were said to be due for completion in Autumn 2007. After Crest Nicholson had taken the reservation fees for the affected houses the completion was then delayed into Winter 2007, and then delayed to 2008. Crest Nicholson has indicated to one purchaser that it will not be willing to offer compensation for this delay and has no interest in providing a firm commitment to attempting to meet the revised anticipated completion dates it has provided.
References
- ^ http://www.indymedia.org.uk/en/regions/westcountry/2006/01/330793.html
- ^ http://www.rendsworld.com/?q=node/43
- ^ http://www.rendsworld.com/files/CrestNicholsonEIALetterJanuarys.pdf
- ^ http://residentsruleok.blogspot.com/2007/04/crest-nicholsons-contaminated-land.html
- ^ http://www.rendsworld.com/files/SecretaryofStateLetter.pdf
- ^ http://www.rendsworld.com/files/Environment%20Agency%20Letter%20October%202006.pdf
- ^ http://www.crestnicholson.com/aboutus/articles.aspx?id=574
- ^ http://www.crestnicholson.com/aboutus/articles.aspx?id=600
- ^ http://www.indymedia.org.uk/en/2007/10/382726.html
