Amec’s plans to sell its business gathered urgency when corporate fixer Richard Fraser was appointed chief executive in 1997. But nobody guessed it would end on 16 April with a £108m sale to Centex Corporation of Dallas. Centex says it is keeping the name and Fraser. Amec keeps two directors on the Fairclough board and a percentage of the profits until 31 March 2001.
Wimpey Homes
Targets: to reduce build cost per unit by £1000 through standardisation of components in the hands of a few suppliers, earn a 10% margin “by 2001 at latest” with UK housing (including McLean Homes) to “achieve a 50% increase in revenues through volumes but principally price”. Wimpey/McLean ceiling is 10% share of total UK sales, ie 14 500. In 1998 they did 11 493.
Westbury Homes
Purchase of Maunders Homes in April 1998 adds weight in the Midlands and South East and presence in the North West where Maunders Westbury opens, becoming Westbury Maunders and soon Westbury - Westbury is effectively already bigger than Bryant. Westbury is dedicated to “connectivity” - with plans to deskill build and design out faults before homes ever go on site.
Tay Homes
Sunley Estates built up an 11% stake, fund manager Philips & Drew applied pressure, John Maunders bought a stake. Maunders became chairman in March and announced a review of the firm due for report later this summer. The plan is to rebuild profitability and then seek highest bidder - “You’d be looking at a fire sale otherwise.” Sunley gets two faces on the board.
Taywood Homes
Taylor Woodrow’s corporate messages suggest its international stable of homebuilders will, for the next few years, be responsible for group profit growth. Taylor Woodrow Capital Developments are behind the two highest profile schemes in the Capital - Greenwich Millennium Village and The Montevetro. Taywood Homes looks set for a push to support group growth.
Countryside Homes
Copthorn Homes began life as Countryside’s bargain basement stablemate in Essex with familiar starter range designs, then expanded with schemes in east London winning awards and plaudits, including from the Royal Fine Art Commission. Copthorn’s lifestyle marketing niche is exemplified by it being Countryside’s hand in Greenwich Millennium Village.
Laing Homes
Fast rising prices - £77 000 in 95 to £101 600 in 96 to £138 500 in 97 and £171 000 in 98 - in part accelerated by selling lower value Laing Homes Scotland to Persimmon in April 1998, mostly driven by selling fewer but bigger homes - 1675 in 1995 falls to 1180 in 1998. Intent shown in August with purchase of 20% stake in very-top-of-the-market Octagon Homes.
Cala Homes
Upmarket housebuilder with sales in Scotland’s central belt, the Midlands and the South East bought Victor Homes in February, the first corporate activity after housing head Alan Downie joined the quoted plc’s main board. Stock exchange announcement in March suggests Cala will be in private ownership by the time it would have reported its year to 30 June.
Miller Homes
The appointment of Geoff Potton as managing director with a brief to develop schemes such as he had at Bryant leaves Miller, which pulled back from the south when it sold up to Kier in 1996, now likely to make a return. Potton has embarked on a PR offensive to point out to landowners that Miller is the kind of homebuilder they should be showing their better sites to.
Twigden Homes
1000-plus new homes development at junction 26 of M25 demonstrates corporate owner Kier’s growing commitment to residential. Kier added Bellwinch to Twigden in June 1998 - picking up 204 units at £128 000 each. Bellwinch retains identity but Kier housing portfolio looks set to grow into an octopus in the arms of residential head David Homer.
Harwood Homes
Redrow Group subsidiary which first traded in 1995 has entered the top 50 on the back of selling affordable units mostly in the North West. The recent setting up of a new Midlands business, again organically, confirm the Harwood name is due to become a regular in this top 50 and suggest it is pencilled in for lower-price sites in other regions in the near future.
Linden Homes
Linden got its flotation away in December 1996, not long before the stockmarket lost interest, and has since become the fastest growing top 50 homebuilder with units up 36% in 1998 on 1997. An interest in Swan Hill has been reported, an acquisition which would almost double Linden’s capacity overnight, but reports may be based on much older enquiries.
Source
Building Homes
