St Modwen is merging its strategic land business with its St Modwen Homes arm under the ownership of Blackstone.
The company, bought by Blackstone last August, said it will double the targets of its housebuilding activities over the next five years as it brings together its land-buying, planning, pre-construction and customer delivery businesses.
Last year St Modwen Homes delivered almost 1,200 new homes. The company is selling homes across 24 sites and continues to make land acquisitions
Chief executive Sarwjit Sambhi said: “Bringing together our land capabilities is natural progression for St Modwen Homes and we hope a catalyst to double the size of this business.”
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