basic WTO ‘World Trade Organisation’ rules.


The best outcome would be free access to the Single Market without tariffs, like Norway, although as Berrisford- Smith pointed out, Norway is not in the Customs Union, meaning that custom duties are payable as well as the need to adhere to stringent rules of origin.


In other words, the UK’s trading relationship with Europe will not be the same going forwards.


Before dessert, Spencer McCarthy, chairman and CEO, Churchill Retirement Living, took the delegates on a journey through Churchill’s history, from its creation in 1994 with just one plot of land, through to its current position of 13th on the Solent 250 listing, with £190 million of sales and £62m of gross profits for the year ended 2016.


Along the way, Churchill has had to endure challenging markets, and to take a number of tough decisions. In 2008, it slashed its workforce by 50%, sold a number of development sites, and instigated company-wide pay cuts, including 20% for the directors. However, the recession ‘cleared out the deadwood’, and Churchill emerged stronger, having paid down debt in the meantime, hence able to repurchase land afterwards at a discount.


The ideal client for Churchill remains a 79-year-old, recently-widowed female, living in a large property with no mortgage; ie asset rich, but cash poor. A great deal of thought has gone into the planning for Churchill’s retirement living units, which offer a ‘lifestyle choice’, and hence command a premium. However, build costs are kept under tight control, with just one standard product and extreme margin discipline, with ‘policies for practically everything’.


This has led to Churchill winning a number of accolades, such as Best Retirement Housebuilder (for the eighth consecutive year) and a 94% recommendation rate from its customers, giving rise to a five- star rating (awarded to only four housebuilders in the country).


Churchill’s mission remains to become the most successful housebuilder in the UK.


THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – MAY/JUNE 2017


businessmag.co.uk


21


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32