Crosby Homes was a major British residential house-building business. It was acquired by

Lendlease Lendlease is a globally integrated real estate company that creates and invests in communities, workplaces, retail, and infrastructure projects, headquartered in Barangaroo, New South Wales, Australia. History Founding The company was establ ...

in 2005.

History

Crosby Homes was established in the mid-1920s by James Crosby to build houses in north Cheshire. During the War it turned to civil engineering and contracting but returned to housebuilding in the late 1950s, when it specialised in building executive housing.Company Prospectus (1987) In 1986, the Crosby family sold out to a management team and in 1989 the company was floated on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

; at that time the company was predominantly building in north Cheshire and south Lancashire. The housing recession led to a cut in the dividend in 1990 and in 1991 Crosby was acquired by

Berkeley Group Holdings The Berkeley Group Holdings plc is a British property developer and house-builder based in Cobham, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. History The company was founded by Tony Pid ...

. The business was substantially expanded, concentrating on city centre development from Birmingham north to Newcastle.Wellings, Fred: ''Dictionary of British Housebuilders'' (2006) Troubador. . As part of Berkeley's restructuring Crosby was sold on deferred terms to its management in 2003; Lendlease then bought it in 2005 for circa £240 million.Crosby Homes chiefs in line for £25m from sale to Lend Lease
The Times, 24 June 2005 Shortly after the takeover the company was renamed Crosby Lend Lease.

References

{{Real estate in the United Kingdom Housebuilding companies of the United Kingdom Companies based in Birmingham, West Midlands Lendlease