Berkeley Group yesterday closed its upmarket homes division Thirlstone, created by managing director Tony Pidgley’s son, Tony K Pidgley.
Berkeley paid £15m for Thirlstone in 1998 but yesterday told the 15 staff at its Byfleet HQ of its closure, after the board decided the company no longer fitted in with the company’s strategy.
Among the weakest areas in the current housebuilding market are detached homes in London and the South East, the very area targeted by Thirlstone.
Financial Times 01/02/03 page 15
