Our business model

Our Business Model is based on a value cycle and each component of the value cycle is important in order to achieve our strategy. The Business Model is presented at UK level only as the majority of metrics are not comparable in our Spanish business.

Delivering customer service

Buying a home is a significant financial and emotional investment. We aim to make buying, moving into and living in a Taylor Wimpey home as easy and enjoyable as possible for our customers.

A new garden neighbourhood, our Somerdale development has been created with placemaking at its heart, attracting a range of customers and communities. This highly popular development offers a range of homes for our customers, designed to meet the needs and aspirations of modern families.

Selecting land

Land is the critical ‘raw material’ for our business and the ability to purchase the right sites in the right locations, at the right price and at the right point in the cycle is a key driver of shareholder value.

The project is regenerating a total of 220 acres of land, previously under private ownership. Once complete, Somerdale residents will benefit from living in a peaceful and leafy setting with open parkland right on their doorstep.

Managing the planning and community engagement process

Designing a sustainable community that meets the needs of local residents, is attractive to potential customers, and provides good returns for shareholders, requires a consultative and iterative process of community engagement.

We engaged extensively with local residents and stakeholders to develop the site’s masterplan. Through our planning agreement we are creating a new primary school with 210 places as well as upgraded sports facilities. We are also contributing towards a new doctors’ surgery building and youth advisory services.

Getting the homebuilding basics right

We work with selected subcontractors and build using carefully sourced materials to ensure that the homes that we sell are of a high quality and are built safely, efficiently, cost-effectively and with minimal impact on the environment.

We review flood risk for each of our developments. At Somerdale, which is surrounded by the River Avon on three sides, we designed the development to make sure that its existing sports pitches and meadow land can act as a floodplain if the river rises.

Our people

Our employees are our greatest asset. Having great teams improves our business success, and the retention of high-quality trained employees is key to achieving our strategic goals.

We are working with suppliers and Bath College to provide opportunities for young people to gain valuable work experience. This includes eight apprenticeships to date as well as educational site visits and work placements for local students.

Optimising value

We seek to maximise the positive value our business brings – from the way we design our homes and communities, to our investments in local facilities, affordable homes and infrastructure, the jobs we support and our charitable donations.

We are investing c.£6.8 million in facilities and off-site works through planning obligations. The site will create around 1,100 jobs and generate around £30 million for the local economy. Around 29% of homes will be affordable including shared ownership and social rent.

We are creating a sustainable new community at our Somerdale development in Keynsham, Somerset, where we are delivering 700 new homes with significant supporting infrastructure on the former Cadbury’s chocolate factory site.

What we do

We want to ensure that we always deliver our homes to the quality standard to which we aspire and that our service is always proactive, positive and professional. Our customer vision is to help our customers make our houses their homes.

Why is it important?

Whilst we operate in a cyclical market, we strongly believe that a customer-centric approach is needed throughout the cycle. We recognise that buying a home is a major financial and emotional investment and it is critical that we give our customers the right experience.

How are we different?

We are in the process of embedding our new customer approach across the business with our focus on three main areas: our culture, structure and process.

We are creating a sustainable new community at our Somerdale development in Keynsham, Somerset, where we are delivering 700 new homes with significant supporting infrastructure on the former Cadbury’s chocolate factory site.

What we do

Good-quality land with planning is the critical ‘raw material’ for our business. The land that we acquire, together with the planning potential we work with local authorities and communities to create, is key to defining products, locations, target customer base and prices and underpins our confidence in our future financial performance.

Why is it important?

The value we create for our shareholders, communities and customers all starts with land and it is the area in which we add most value, through planning, allowing us to generate the best quality returns. Land is a scarce resource and we want to make the best use of what is available, select the right sites and transform them into vibrant and thriving communities.

How are we different?

We have a strong short term landbank at c.76k plots. Our investment and scale is based on our view of land quality and capital risk in a cyclical market. We are focused on selecting the right land and developing it in a sustainable manner. We have one of the largest strategic land pipelines in the sector with c.108k potential plots. With the benefit of this, and having reached our optimum range of short term landbank, we have an extremely selective and targeted approach to land investment. This allows us to focus on where we can add value and maximise our returns.

We are creating a sustainable new community at our Somerdale development in Keynsham, Somerset, where we are delivering 700 new homes with significant supporting infrastructure on the former Cadbury’s chocolate factory site.

What we do

We aim to be the industry leader in all aspects of planning and to obtain the right planning consents that enable us to respond to a changing market, reflect the desires of our customer base and deliver the quality homes we want to build, whilst meeting our financial objectives.

Why is it important?

We believe that local communities should have a say in development. This enables us to achieve the right planning permissions and ensure our developments are valued by their local communities.

How are we different?

We actively seek the views of local communities and other stakeholders. We develop a tailored planning and community engagement strategy for each site and work closely with communities and other local stakeholders throughout all aspects of the planning process. We believe that we have a responsibility to contribute to our local communities and that this responsibility grows with our success.

We are creating a sustainable new community at our Somerdale development in Keynsham, Somerset, where we are delivering 700 new homes with significant supporting infrastructure on the former Cadbury’s chocolate factory site.

What we do

We work with selected subcontractors and build using carefully sourced materials to ensure that the homes that we sell are of a high quality and are built safely, efficiently, cost-effectively and with minimal impact on the environment.

Why is it important?

There is nothing more important to us than providing a safe place in which our employees and subcontractors can work. We are also committed to high standards of environmental management. The building process is carefully managed by our site-based and regional Production Teams to ensure quality, minimise disruption to residents in the surrounding areas, and to protect and enhance the value of each site.

How are we different?

We believe that quality objectives matter as much as financial objectives. Operating sustainably is both the right thing to do and makes good business sense.

We are creating a sustainable new community at our Somerdale development in Keynsham, Somerset, where we are delivering 700 new homes with significant supporting infrastructure on the former Cadbury’s chocolate factory site.

What we do

We aim to be the employer of choice in the housebuilding industry, attracting and retaining the best people to establish a culture that gives all individuals the opportunity and support to develop to their full potential, regardless of market conditions or their background.

Why is it important?

Individually, and by working together, our employees are crucial to driving our success. We believe that having the right people with the right skills at all levels in our organisation is critical to building a quality, sustainable business and delivering our strategy.

How are we different?

We have a strategic approach to our human resources and have further improved our approach to talent, succession, resourcing and reward, as well as learning and development.

We are creating a sustainable new community at our Somerdale development in Keynsham, Somerset, where we are delivering 700 new homes with significant supporting infrastructure on the former Cadbury’s chocolate factory site.

What we do

Our ability to constantly increase efficiency and tightly control costs is part of the Taylor Wimpey culture and remains central to delivering enhanced returns. This extends to and encompasses all aspects of our business as we strive to optimise and capture value at every level from procurement through to delivery, and we aim to add value to the charities we support and to our wider partnerships.

Why is it important?

The discipline of continually reviewing and challenging ourselves to do more ensures we do more than simply protect the business, we enhance the value.

How are we different?

We have a relentless focus on value at every stage of our Business Model and this is ingrained into the Taylor Wimpey mindset. We also balance our desire to improve quality with a focus on making our assets work harder for us and our stakeholders.