Gerald Ronson’s Heron International further increased its stake in housebuilder Crest Nicholson last week.

Heron International bought 2.5m shares, raising its holding to 22.07%.

Ronson first took a 3% stake in the company in August last year. He is now the biggest single shareholder.

If Heron raises its holding to 30%, Ronson will be required to make a formal offer for the company, according to the stock exchange’s takeover rules.

So far he has declined requests to talk to the management at Crest Nicholson and has remained tight-lipped about his intentions.

His options include a takeover bid but it is possible that Ronson is planning to build up his stake to just under 30% and then sell it for a good price to a party interested in buying the company.

Heron International is best known for landmark offices but started out as a housebuilder.