A near 7% rise in completions to 10,307 homes saw Bellway revenue rise by around 16% to a record of almost £3bn.

In a year-end trading statement chief executive Jason Honeyman said anticipated operating margin of around 22% would lead to another year of significant earnings growth.

Bellway ended the year with net cash of £99m (2017 – £16m), despite spending £784m on strengthening its land bank.

Honeyman said: “Bellway has responded positively to the favourable market conditions, completing the sale of over 10,000 new homes, while retaining a clear focus on quality and customer care.

“In doing so, the group has set a new earnings record and yet, having invested significantly in land, has ended the year with a strong net cash position.”

He added that the pricing environment remained stable, with many sites still able to achieve low, single digit increases, predominantly for affordably priced homes, located in areas of strong demand.

As the year has progressed, the rate of house price inflation moderated. Higher value homes across the country have, at times, experienced slower sales rates and occasionally required a greater use of incentives.

Honeyman said: “Trading has been robust and notwithstanding wider political and economic uncertainty in the UK, Bellway has both the financial and operational strength to respond opportunistically to future changes in market conditions.”

The 190,000 sq ft mixed-use development, known as Park Modern, will boast views across Kensington Gardens onto Kensington Palace in central London. Flats will be priced from £2m to £30m.

Work is set to start in October on the three-year build once demolition of existing buildings is complete.

The super prime residential scheme, which also includes 30,000 sq ft of retail space, will be located on a prime freehold city block next to Queensway London Underground station, bordered by Bayswater Road, Queensway and Inverness Terrace.

The Park Modern project will spearhead the regeneration of Queensway into Bayswater Village, a regeneration scheme championed by Westminster City Council.

It will make a total public contribution of £18.3m which will be used to deliver £11m of affordable housing as well as a series of important public realm improvements, including a new Royal Gateway into Hyde Park at South Queensway.

Sanjay Sharma, co-Founding Director at Fenton Whelan said: “Prime London mixed-use schemes don’t get any better than this, a unique offering of Royal neighbours, a parkside address and Palace and garden views.”

The major new neighbourhood scheme designed by Assael Architecture will redevelop an old margarine factory site in Southall town centre.

It will see homes delivered in high-rise blocks and the retention of the original façade of the Maypole factory, which was once the largest margarine producer in the world.

Named Margarine Works, the 12-acre project will play a huge role in the wider regeneration of Ealing with a new 1 acre green park at its heart.

The project will be delivered in phases, with start on-site for the initial stage planned for Autumn 2019. The first homes are due to be available in 2021.

Damian Stalley, managing director at Montreaux Developments, said: “It was a real team effort by everybody. We’ve been impressed by the speed at which Assael and our project team went from concept to planning submission in just6 months.

“The pre-application advice from Ealing has been vital to informing our emerging proposals and hitting these timeframes.”

Benefitting significantly from the Crossrail station planned for Southall, additional infrastructure upgrades in the masterplan include a new pedestrianised bridge over the railway, which will further enhance pedestrian movement through the site and the wider area.

The scheme will see construction of six buildings containing 1,036 new homes alongside 15 new retail spaces; co-working and office space and a health centre.

The planning application encompasses five pieces of land earmarked for change, supporting Haringey Council’s vision of a new ‘district centre’ for the area.

The council is expected to consider the application later this year.

Tom Goodall, the Director at Argent Related leading the project, said: “Tottenham is an inspiring part of London.

“Its street life, clusters of artists, adventurous young businesses, and the breadth of opinions, cultures and aspirations we have encountered have directly contributed to our proposals for Tottenham Hale.”