Miller Homes has agreed a deal to buy St Modwen Homes that will see the housebuilder take a step closer to its medium-term goal of delivering 6,000 homes a year.
The Scottish housebuilder will acquire the Birmingham-based developer which will include it taking over 19 live sites with a total of around 3,500 new homes plots as well as five strategic sites.
The acquisition means that Miller will enter the South West for the first time as well as growing its presence in the West Midlands, East Midlands and South regions.
Miller said that the purchase will play a “significant” role in its strategy to increase its completions to 6,000 homes a year.
The St Modwen brand will be retained, with a new regional office established in the South West to operate out of. Miller said that St Modwen shared its approach to “excellent quality and customer experience” with both housebuilders receiving a five-star rating in the Home Builders Federation’s Customer Satisfaction Survey.
Miller Homes’ CEO, Stewart Lynes, said: “Across the UK, people need high-quality, sustainable homes. We are committed to growth and playing an important part in addressing the housing shortage. We were attracted to the quality and location of St. Modwen Homes’ land, helping us grow and expand to new areas.”
“Through operating St Modwen Homes under its brand, we can continue to deliver choice to the market, while maintaining our commitments to quality, sustainability and the customer experience.”
The deal is expected to complete in the first quarter of 2025, subject to regulatory approval.
