We continually add value to our residential assets by remediation and securing planning gain, after which we either develop the sites ourselves through our own housebuilding brand St. Modwen Homes, or in joint venture with Persimmon. Alternatively we sell this ‘oven ready’ residential land on to third parties to develop.
Realising value through two principal routes to market
Creating new sustainable communities that enhance the environment as well as the local and broader economy is a fundamental part of regeneration. Residential development is a key facet of this.
Our residential portfolio makes up 42% of our 6,000 acre land bank by value. Across our entire portfolio, we have 32,516 plots of which 80% have planning permissions or allocations within local plans.
As part of our ongoing regeneration business, we acquire sites with potential for residential development and add value to the land throughout the development process, crystallising that value through four routes to market:
Our joint venture with Persimmon PLC was established in 2010. There are eight site under the agreement, comprising 2,364 plots. This highly successful joint venture is scheduled to conclude as sites are completed by 2017/18.
Our own housebuilding brand, St. Modwen Homes, differentiates itself from larger national housebuilders by adopting a local developer mentality and following a design-led approach which is reflected in both the built form and the external environment.
Combined with our asset management capabilities, our ability to progress land through the planning process and our remediation and development skills, these two routes highlight our practical approach to development and make us an attractive partner to land owners and the public sector.