Housebuilder Mactaggart & Mickel has declared that it plans to generate 50 per cent of revenue from south of the Border by the time of its 100th anniversary in 2025.

Chief executive Ed Monaghan revealed the target as the family-owned firm obtained planning permission for its first development in England.

The development at Milton under Wychwood in Witney, Oxfordshire comprises 62 units, half of which will be affordable homes managed by Cottsway Housing Association.

The average selling price of the 31 private homes is £520,000, generating about £21 million in revenue for the Glasgow firm over the next 18 months.

Plans for a follow-on site in East Challow will be submitted in January with further sites in the development pipeline as the firm known widely as MacMic ramps up activity in the county.

“We’re on a journey at the moment as we head towards our 100th anniversary in 2025, and it is to get a [revenue] balance across the group geographically on a 50/50 basis,” he said.

Mr Monaghan said the company’s experience in England revealed that “local authorities are looking for an all-tenure solution to the housing crisis, while we find in Scotland sometimes the emphasis is solely on affordable [housing]”.

Mr Monaghan said the planning system in England was “quicker, more focused on delivery of the homes, and more engaged”.

But he added that planning departments everywhere are tied to the resource allocated to them and called on councils to support planners to help them get through applications quicker.