Redrow plc is one of the largest British housebuilders with a network of 14 operational divisions across the UK.[2] It is based in Flintshire and employs 2,300 people. It is listed on the London Stock Exchange and is currently a constituent of the FTSE 250 Index.
A Redrow development in Horsforth, West Yorkshire
In 2010 Redrow launched its Heritage Collection [8] followed by the Regent Collection [9] and more modern Abode Collection.[10]
In February 2017 Redrow acquired Radleigh Homes in Derby, an established company which delivered 200 new homes in 2016. It has since been re-branded to Redrow Homes (East Midlands).[11] Then, in September 2017, it was announced that Morgan would "ease back" to a non-executive chairman role with Redrow.[12]
In July 2018, prompted by growth in London and the southern counties, Redrow announced the opening of its 15th division, Thames Valley, based in Oxfordshire.[13] On 18 October 2018 Redrow announced its 100,000th customer and released statistics on the number of direct jobs it had created (36,000), including 2,000 trainees, and a further 200,000 indirect employees.[14] On 7 November 2018, it was announced that Steve Morgan would retire from the company in March 2019 with John Tutte taking over as executive chairman and Matthew Pratt as chief operating officer.[15] Tutte himself announced his retirement in 2020 with Matthew Pratt taking over as Group Chief Executive.[16]
Like most housebuilders, Redrow temporarily closed most of its sites during the COVID-19 pandemic in the United Kingdom during early 2020. The site closures pushed house sales down by a third. In a trading update, Redrow said it had completed 4,032 homes up to 28 June 2020, compared to 6,443 in 2019. Turnover was expected to be £1.34bn against £2.11bn in 2019.[17]
Flagship developments
The company's flagship developments include:
- Woodford Garden Village: Woodford Garden Village in Cheshire is the first garden village for over 100 years in the North West of England and utilises over 500 acres of brownfield land, previously used for aircraft manufacturing. Redrow will be developing 900 new homes alongside 50 acres of green public spaces.[18]
- Ebbsfleet Green, Kent: Redrow's Ebbsfleet Green will comprise 950 new homes, along with a village centre, park, sports pitches, a hotel and a pub, and a primary school.[19] This development will form part of the plans for a garden city at Ebbsfleet, with up to 15,000 new homes, based predominately on brownfield land, or former quarries.[20] This development, is also part of the NHS Healthy New Towns network.[21]
- Plasdwr: Redrow is developing around 2,000 homes in Plasdwr, north west Cardiff. The £2 billion Cardiff ‘garden village’ will comprise four different zones, each with a central square and a primary school.[22]
- Colindale Gardens: a £1 billion mixed use development in north west London, which will have more than 2,900 homes. At 47 acres in total, the regeneration utilised a tower block and adjacent land from the Peel Centre, formerly part of the Hendon Police College.[23]
- Ledsham Garden Village: A 105-hectare site in South Wirral will become a sustainable new community of up to 2,000 homes. It will create employment, education and leisure opportunities and green open spaces.[24]
- Amington Garden Village, Tamworth: This 60-hectare former golf course site will feature up to 1,100 new homes and a package of community investment worth £14 million, including funding towards the cost of building a new primary school, a new community woodland and extending the Hodge Lane Local Nature Reserve.[25]
Regeneration