Sunday 20 February 2011

Redrow buys prime London housing sites - Telegraph

Redrow buys prime London housing sites - Telegraph

Steve Morgan, founder and chairman, said the housebuilder had bought land in Ealing, Connaught Place and Kingston, and opened a new office in Central London.

The sites have room for 244 plots, likely to be high-end apartments, and will have a development value of approximately £150m.

"We are not making a big song and dance about it, because there is still a long way to go," said Mr Morgan. "But it is a new direction for us and we think it could become an important part of the business."

The Redrow chairman made the comments as the company revealed it returned to the black in the second half of 2010, driven by its new range of family homes called The New Heritage Collection.

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