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Wed June 29 2022

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Blackstone looks to double St Modwen housing output

15 Mar Property developer St Modwen is planning to double its house-building output over the next five years.

St Modwen homes near Wantage
St Modwen homes near Wantage

St Modwen, acquired by Blackstone in August 2021 for £1.3bn, is combining staff from its previously standalone strategic land business, Strategic Land & Regeneration, with St Modwen Homes to accelerate its growth plans.

St Modwen Homes completed almost 1,200 new homes last year and is currently selling homes on 24 sites.

St Modwen Logistics delivered 1.4 million sq ft of new warehouse space in 2021, with growth planned in 2022, backed a pipelines of 19 million sq ft.

St Modwen chief executive Sarwjit Sambhi said: “Over recent years, St Modwen has become one of the UK’s leading developers of new communities and high-quality homes. 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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