{{Short description|UK Residential property development company}} {{Use dmy dates|date=December 2020}} {{Use British English|date=October 2013}} {{Infobox company | name = Barratt Redrow plc | logo = Barratt Redrow logo.png | former_name = {{ubl|Barratt Developments Limited (1958–1981)<ref name="CompaniesHouse">{{Cite web |title=Barratt Developments p l c overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/00604574 |access-date=15 February 2024 |website=Companies House |language=en}}</ref>|Barratt Developments plc (1981–2024)}} | type = Public limited company | traded_as = {{lse|BTRW}}<br>FTSE 100 Component | foundation = {{start date and age|1958|05|14}} | location = Coalville, England, UK | key_people = {{Ubl | Caroline Silver (Chairwoman) | David Thomas (CEO)<ref>{{cite web |url=https://uk.finance.yahoo.com/news/barratt-developments-david-thomas-pay-ceo-help-to-buy-profits-091652637.html |title=Housebuilder CEO gets £890,000 pay rise as Help to Buy boom continues |date=17 September 2019 |publisher=Yahoo |access-date=2 August 2021}}</ref> }} | industry = Housebuilding | products = | revenue = {{increase}} £5,578.3 million (2025)<ref name=results>{{cite web |url=https://www.barrattredrow.co.uk/~/media/Files/B/Barratt-Developments-V2/documents/media-releases/2025/full-year-results-17-09-2025.pdf|title=Annual Results 2025 |publisher=Barratt Developments |access-date=17 September 2025}}</ref> | operating_income = {{increase}} £285.5 million (2025)<ref name=results/> | net_income = {{increase}} £186.4 million (2025)<ref name=results/> | assets = | num_employees = 7,756 (2025)<ref>{{cite web|url=https://www.barrattredrow.co.uk/~/media/Files/B/Barratt-Developments-V2/documents/annual-report-2025/barratt-redrow-plc-annual-report-and-accounts-2025.pdf|title=Annual Report 2025|publisher=Barratt Redrow|access-date=27 January 2026}}</ref> | parent = | subsid = | homepage = {{nowrap|{{URL|https://www.barrattredrow.co.uk/}}}} | footnotes = }} [[File:Foxwood Walk, Wetherby (31st December 2014).jpg|thumb|right|1970s Barratt housing in Wetherby, West Yorkshire.]] [[File:West Village - geograph.org.uk - 996000.jpg|thumb|A Barratt development near Reading]] [[File:David Wilson Homes former showhome.jpg|thumb|A David Wilson Homes branded house of Barratt Developments near Longford, Gloucestershire]]
'''Barratt Redrow plc''' is a British residential property development operating across England, Wales and Scotland. It is a constituent of the FTSE 100 Index. It was originally based in Newcastle upon Tyne, England, but is presently located at David Wilson's former offices in Coalville, England.
Barratt was originally founded in 1958 by Lewis Greensitt and Sir Lawrie Barratt as ''Greensitt Bros.'' to build houses. During 1968, the company, which had by then been renamed ''Greensitt & Barratt'', was floated on the London Stock Exchange. Following Lewis Greensitt's departure, the company was rebranded as Barratt Developments. It grew rapidly during the 1970s, largely due to a spree of acquisitions. By June 1983, Barratt was the largest housebuilder in the country, selling a record 16,500 houses over the prior 12 months.<ref name="telegraph"/> Sales more than halved during the mid-1980s, a trend that was partly attributed to public criticism of Barratt's practices in two successive ITV ''World in Action'' programmes. In response, Barratt was heavily restructured, abandoned timber-framed construction in favour of a new product range, and de-emphasised its starter homes activities.
While Barratt Developments has almost exclusively focused on the British market, the overseas subsidiary ''Barratt American'' was established in the 1980s; it was eventually sold on via a management buyout in 2004. Barratt Developments was heavily impacted by the early 1990s recession, compelling Lawrie Barratt to return to active management and house production to be increased. During 2007, Barratt made its first acquisition in almost 30 years, purchasing Wilson Bowden for £2.7 billion, which enabled Barratt to become the biggest homebuilder in Britain once again. Amid the economic effects of the Great Recession, the firm had to write-off nearly £600 million along with 700 job losses and restructure its finances. During 2012, ''Barratt Residential Asset Management'' was established to provide property management services on a non-profit basis across Barratt London developments; it was acquired by FirstPort seven years later. On 7 February 2024, the company made an agreed offer to acquire rival homebuilder Redrow for £2.5 billion; the deal was concluded in October 2024, when the firm became known as ''Barratt Redrow''.
== History == In 1953, Lawrie Barratt, an accountant who was frustrated at the high purchase prices of houses for first-time buyers, bought five acres of land at Darras Hall, near Newcastle upon Tyne and built his own home on the site.<ref name="regal">{{cite web |access-date=1 March 2021 |url=http://www.signonsandiego.com/uniontrib/20050619/news_mz1h19lawie.html |archive-url=https://web.archive.org/web/20060527120021/http://www.signonsandiego.com/uniontrib/20050619/news_mz1h19lawie.html |url-status=dead |archive-date=27 May 2006 |title=Regal Founder had a humble start |publisher=U-T San Diego |date=19 June 2005}}</ref> Following this experience, he joined forces with Lewis Greensitt, a Newcastle builder, to establish a house building business, which was initially known as ''Greensitt Brothers'', in 1958.<ref>{{cite web |url=https://www.telegraph.co.uk/news/obituaries/finance-obituaries/9759370/Sir-Lawrie-Barratt.html |title=Sir Lawrie Barratt |newspaper=Daily Telegraph |date=20 December 2012 |access-date=1 March 2021}}</ref>
During 1968, the company was floated on the London Stock Exchange as ''Greensitt & Barratt'', by which time the company was building 500 homes per year and the growth plan had been "fully achieved".<ref name="Barratt Prospectus">{{cite book |title=Company prospectus |date=November 1968}}</ref> Lewis Greensitt left shortly after the flotation and in 1973 the company was renamed Barratt Developments.<ref name="dictionary">{{cite book |last = Wellings |first = Fred |title = Dictionary of British Housebuilders |date = 2006 |publisher = Troubador |isbn = 978-0-9552965-0-5}}</ref> Throughout the 1970s, Barratt completed a series of acquisitions, transforming the company from a local housebuilder to a national firm building around 10,000 houses per year, and rivalling George Wimpey in size. The largest of these acquisitions were the Manchester-based firm ''Arthur Wardle''<ref>Greensitt & Barratt offer document April 1972</ref> and the Luton-based ''Janes''.<ref>Barratt offer document January 1976</ref>
Central to Barratt's expansion was its high-profile marketing, with national advertising, featuring Patrick Allen and a helicopter.<ref>{{cite web |title=Classic Ads: Barratts with Patrick Allen |website = YouTube |date=14 May 2012 |url=https://www.youtube.com/watch?v=daSqvhEcfDM |archive-url=https://ghostarchive.org/varchive/youtube/20211221/daSqvhEcfDM |archive-date=21 December 2021 |url-status=live |access-date= 18 April 2019}}{{cbignore}}</ref><ref>{{cite web |url = https://www.theguardian.com/news/2006/aug/09/guardianobituaries.film |title = Obituary: Patrick Allen |work = The Guardian |first = Dennis |last = Barker |date= 9 August 2006}}</ref> Barratt provided starter homes for the first-time buyer and offered part-exchange to those trading up. In the year to June 1983, Barratt sold a record 16,500 houses, making it by far the largest housebuilder in the country.<ref name="telegraph">{{cite web |url=https://www.telegraph.co.uk/news/obituaries/finance-obituaries/9759370/Sir-Lawrie-Barratt.html |title=Sir Lawrie Barratt |work=The Telegraph |date= 20 December 2012 |access-date=19 March 2016}}</ref> In 1983 and 1984, Barratt was subject to two successive ITV ''World in Action'' programmes, the first criticising timber-framed housing and the latter, starter homes. Within two years, unit sales had more than halved. Lawrie Barratt led a total restructuring of the company, abandoning timber-framed construction, launching a new product range, and concentrating on the more profitable trade-up market.<ref name="dictionary" /> In the late 1980s, Margaret Thatcher famously purchased a house on one of Barratt's most upmarket estates, in Dulwich, London.<ref>{{cite news |url=https://www.theguardian.com/society/2002/jan/30/urbandesign.architecture |title=Laager toffs |work=The Guardian |date=30 January 2002 |access-date=8 October 2008 |location=London, UK |first=Chris |last=Arnot |archive-url= https://web.archive.org/web/20081030080722/http://www.guardian.co.uk/society/2002/jan/30/urbandesign.architecture |archive-date= 30 October 2008 |url-status= live}}</ref><ref>{{cite web |url = https://constructionmanagement.co.uk/how-thatcher-built-channel-tunnel-and-killed-appre/ |title = The industry comments on the Thatcher years |website = constructionmanagement.co.uk |date = 12 April 2013}}</ref>
During the 1980s, the company established the Californian-based business ''Barratt American'', which expanded outside of the state after positive performance during the early 1990s.<ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/06apr90-usa-barratt-developments-plans-to-expand-outside-california-after-record-year-05-04-1990/ |title = Barratt Developments plans to expand outside California after record year |website = constructionnews.co.uk |date = 5 April 1990}}</ref> In 2004, the company sold Barratt American via a management buyout in exchange for £91 million; at the time, it was Barratt's only overseas unit and management opted to focus on the UK market instead.<ref>{{cite web |url=https://www.latimes.com/archives/la-xpm-2004-aug-31-fi-barratt31-story.html |title=Builder Bought Out by Insiders |first = Annette |last = Haddad |work = Los Angeles Times |date = 31 August 2004}}</ref><ref>{{cite web |url = https://www.building.co.uk/news/barratt-sells-us-arm-to-fund-expansion-in-uk/3039080.article |title = Barratt sells US arm to fund expansion in UK |website = building.co.uk |date = 5 August 2004}}</ref>
The company was heavily impacted by the early 1990s recession.<ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/28sep90-uk-first-barratt-cut-in-dividend-as-pretax-profit-falls-from-77-5m-to-30-2m-city-warns-of-more-27-09-1990/ |title = First Barratt cut in dividend as pretax profit falls from £77.5M to £30.2M – City warns of more |website = constructionnews.co.uk |date = 27 September 1990 }}</ref><ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/30aug91-uk-barratt-developments-shuts-salford-and-luton-regional-offices-29-08-1991/ |title = Barratt Developments shuts Salford and Luton regional offices |website = constructionnews.co.uk |date = 29 August 1991}}</ref> Barratt's fiscal circumstances led to Lawrie Barratt being recalled from retirement.<ref>{{cite web |url = https://www.building.co.uk/focus/ill-be-back-why-bosses-return-to-run-their-companies/5045785.article |title = 'I'll be back' - Why bosses return to run their companies |publisher=Building.co.uk |first = Joey |last = Gardiner |date = 21 November 2012}}</ref> The company promptly reoriented towards first time buyers and increased production.<ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/01apr93-uk-barratt-plots-a-boost-in-house-sales-01-04-1993/ |title = Barratt plots a boost in house sales |website = constructionnews.co.uk |date = 1 April 1993}}</ref><ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/barratt-bounds-into-spring-with-sales-rise-and-expansion-plans-09-03-1995/ |title = Barratt bounds into spring with sales rise and expansion plans |website = constructionnews.co.uk |date = 9 March 1995}}</ref> Lawrie retired for good in 1997 and remained life president of the firm until his death in December 2012.<ref name=telegraph/><ref name = "building founder 2012">{{cite web |url=https://www.building.co.uk/news/barratt-founder-dies-aged-85/5048003.article |title=Barratt founder dies aged 85 |publisher=Building.co.uk |first = Joey |last = Gardiner |date = 19 December 2012}}</ref>
There was a lengthy housing boom in the late 1990s and early 2000s, which saw a number of Barratt's largest rivals, such as Persimmon, George Wimpey and Taylor Woodrow all acquire rivals to increase in size.<ref>{{cite web |url = https://www.theguardian.com/business/2002/oct/17/9 |title = Wimpey moves in on Laing Homes |date = 17 October 2002 |work = The Guardian |language = en-GB}}</ref><ref>{{cite web |url = https://www.independent.co.uk/news/business/news/taylor-woodrow-to-buy-wilson-connolly-85185.html |title = Taylor Woodrow to buy Wilson Connolly |first = Rachel |last = Stevenson |work = The Independent |date = 2 September 2003 }}</ref><ref>{{cite news |url=http://news.bbc.co.uk/1/hi/business/4465540.stm |title=Business - UK housebuilders announce tie-up |work=BBC News |access-date=21 March 2015}}</ref> Likewise, in 2007, Barratt broke its tradition of 30 years and acquired Wilson Bowden, best known for its David Wilson Homes brand, in exchange for £2.7 billion; the move made Barrett the biggest homebuilder in Britain, employing roughly 7,500 people at the time of the acquisition.<ref>{{cite news |url=http://www.iht.com/articles/2007/02/05/bloomberg/bxhome.php |date=6 February 2007 |title=Barratt Developments to buy Wilson Bowden |via=International Herald Tribune |publisher=Bloomberg |url-status=dead |archive-url=https://web.archive.org/web/20070208104428/http://www.iht.com/articles/2007/02/05/bloomberg/bxhome.php |archive-date=8 February 2007 |first1=Andrew |last1=Noel |first2=Sophie |last2=Kernon}}</ref><ref>{{cite web |url = https://www.theguardian.com/money/2007/feb/06/houseprices.business |title = Wilson Bowden takeover makes Barratt UK's largest housebuilder |work = The Guardian |first = Julia |last = Kollewe |date = 6 February 2007}}</ref> thus bringing the David Wilson, Ward Homes and Wilson Bowden Developments brands to the group; Barrett decided to retain the Wilson Bowden name for some activities.<ref>{{cite web |url = https://www.building.co.uk/news/barratt-to-close-nine-divisions-and-cut-400-jobs/3086170.article |title = Barratt to close nine divisions and cut 400 jobs |website = building.co.uk |first = David |last = Blackman |date = 4 May 2007}}</ref><ref>{{cite web |url = https://www.building.co.uk/news/barratt-puts-wilson-bowden-developments-up-for-sale/3111046.article |title = Barratt puts Wilson Bowden Developments up for sale |website = building.co.uk |first = Joey |last = Gardiner |date = 11 April 2008}}</ref>
In August 2008, amid the economic effects of the Great Recession and reports that Barrett was in jeopardy of breaking its banking covenants, the firm successfully restructured its arrangements.<ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/barratts-financial-results-under-scrutiny-18-09-2008/ |title = Barratt's financial results under scrutiny |website = constructionnews.co.uk |date = 18 September 2008 |first = Andrea |last = Klettner}}</ref><ref>{{cite news |url=http://business.timesonline.co.uk/tol/business/industry_sectors/article4473900.ece |archive-url=https://web.archive.org/web/20110612064728/http://business.timesonline.co.uk/tol/business/industry_sectors/article4473900.ece |url-status=dead |archive-date=12 June 2011 |work=The Times |title=Need to Know |date=7 August 2008 |access-date=8 October 2008 |location=London, UK }}</ref> During early 2009, it reported a write-off of nearly £600 million along with 700 job losses.<ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/barratt-cuts-a-further-700-jobs-25-02-2009/ |title = Barratt cuts a further 700 jobs |website = constructionnews.co.uk |date = 25 February 2009 |first = Nick |last = Whitten}}</ref><ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/barratt-shares-up-after-600m-loss-on-landbank-writedowns-05-03-2009/ |title = Barratt shares up after £600m loss on landbank writedowns |website = constructionnews.co.uk |date = 5 March 2009 |first = Nick |last = Whitten}}</ref> In November 2019, Barrett announced that it had completed its refinancing and was actively seeking to open new sites once again.<ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/barratt-to-open-new-sites-after-successful-refinancing-17-11-2009/ |title = Barratt to open new sites after successful refinancing |website = constructionnews.co.uk |date = 17 November 2009 |first = Nick |last = Whitten}}</ref>
During the early 2010s, the firm entered into numerous partnerships with other companies.<ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/barratt-and-peel-ink-200m-deal-for-1000-homes-20-07-2011/ |title = Barratt and Peel ink £200m deal for 1,000 homes |website = constructionnews.co.uk |date = 20 July 2011 |first = Tom |last = Fitzpatrick}}</ref><ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/barratt-partners-with-galliard-for-west-ham-utd-redevelopment-19-10-2015/ |title = Barratt partners with Galliard for West Ham Utd redevelopment |website = constructionnews.co.uk |date = 19 October 2015 |first = Robyn |last = Wilson}}</ref><ref>{{cite web |url = https://www.constructionnews.co.uk/sections/news/barratt-and-british-land-win-250m-aldgate-approval-24-07-2013/ |title = Barratt and British Land win £250m Aldgate approval |website = constructionnews.co.uk |date = 24 July 2013 |first = Chris |last = Berkin}}</ref> During 2012, the ''Barratt Residential Asset Management'' division was established to provide property management services on a non-profit basis across Barratt London developments.<ref>{{cite web |url=http://www.barratthomes.co.uk/new-homes/london/how-we-can-help/bram-articles/welcome/ |title=Welcome to BRAM |work=barratthomes.co.uk |access-date=27 August 2015}}</ref> In March 2019, it was announced that Barratt Residential Asset Management had been acquired by FirstPort; as a result of the deal, the 11,000 Barratt London homes that it managed were transferred over to FirstPort.<ref>{{cite web |url = https://www.egi.co.uk/news/firstport-acquires-barratt-residential-asset-management/ |title = FirstPort acquires Barratt Residential Asset Management |publisher = Estates Gazette |first = Emma |last = Rosser |date = 19 March 2019}}</ref><ref>{{cite web |url = https://www.propertyweek.com/news/firstport-acquires-barratt-londons-property-management-arm |title = FirstPort acquires Barratt London's property management arm |website = propertyweek.com |date = 20 March 2019}}</ref>
In late 2017, Barratt withdrew from a development deal with Enfield Council valued at £6 billion after the local authority had dismissed its terms.<ref>{{cite web |url = https://www.constructionnews.co.uk/project-reports/barratts-6bn-enfield-residential-deal-collapses-26-10-2017/ |title = Barratt's £6bn Enfield residential deal collapses |website = constructionnews.co.uk |date = 26 October 2017 |first = Zak |last = Garner-Purkis }}</ref> During June 2019, Barratt acquired Oregon Timber Frame, one of the UK's largest timber frame manufacturers and a key supplier to Barratt.<ref>{{Cite web |last=Blundell |first=Steph |date=28 June 2019 |title=Barratt Development acquires timber frame manufacturers |url=https://www.pbctoday.co.uk/news/mmc-news/barratt-timber-frame/59117/ |access-date=1 March 2021 |website=Planning, BIM & Construction Today |language=en-UK}}</ref> thumb|Logo of Barratt Developments, prior to 2024 merger with Redrow. During 2020, Barratt Developments set science-based carbon reduction targets as well as making a commitment to build zero carbon homes from 2030 and become a net zero business by 2040.<ref>{{Cite web |title=UK's largest housebuilder sets 1.5C-aligned emissions targets |url=https://www.edie.net/news/6/UK-s-largest-housebuilder-sets-1-5C-aligned-emissions-targets/ |access-date=1 March 2021 |website=edie.net |language=en}}</ref> Examples of sustainable developments include the Energy House 2.0,<ref>{{Cite web |last=Salford |first=The University of |title=Biggest ever test of heating in homes as UK prepares to go gas-free {{!}} University of Salford |url=https://www.salford.ac.uk/news/biggest-ever-test-of-heating-in-homes-as-uk-prepares-to-go-gas-free |access-date=2025-02-23 |website=www.salford.ac.uk |language=en}}</ref> Green House<ref>{{Cite web |title=Barratt Green House – BRE Innovation Parks |url=https://www.bregroup.com/ipark/parks/england/buildings/barratt-green-house/ |access-date=1 March 2021 |language=en-GB}}</ref> at the BRE Innovation Park, Hanham Hall near Bristol,<ref>{{Cite web |date=14 December 2007 |title=Barratt contracted to build UK's first eco-village |url=http://www.theguardian.com/environment/2007/dec/14/energyefficiency.energy1 |access-date=1 March 2021 |website=The Guardian |language=en-GB}}</ref> Derwenthorpe, near York<ref>{{Cite web |date=14 May 2015 |title=Derwenthorpe, York |url=https://www.jrht.org.uk/community/derwenthorpe-york |access-date=1 March 2021 |website=JRHT |language=en-GB}}</ref> and Kingsbrook, near Aylesbury.<ref>{{Cite web |title=Kingsbrook: New Standards in Wildlife-Friendly Housing |url=https://www.rspb.org.uk/our-work/conservation/projects/kingsbrook-housing/ |access-date=1 March 2021 |website=The RSPB |language=en-GB}}</ref> Another goal of the firm's emphasis on the adoption of modern methods of construction was to reduce the need for skilled labour.<ref>{{cite web |url = https://www.constructionnews.co.uk/skills/barratt-turns-to-mmc-amid-rising-labour-costs-02-09-2021/ |title = Barratt turns to MMC amid rising labour costs |website = constructionnews.co.uk |date = 2 September 2021 |first = David |last = Price}}</ref>
As of 2024, Barratt Developments had achieved a 5 star rating in the Home Builders Federation new home Customer Satisfaction Survey for 15 consecutive years.<ref>{{Cite web |title=Barratt Developments awarded 5 stars by its customers for a record 15 years in a row |url=https://www.bbpmedia.co.uk/news/property-construction/west-midlands-homebuilders-awarded-five-stars-by-customers.html |publisher=bbp media}}</ref> In the 2024 NHBC Pride in the Job awards for site managers, Barratt site managers won 89 Quality Awards.<ref>{{Cite web |title=Barratt Developments win 89 NHBC Pride in the Job Quality Awards, Barratt Developments |url=https://www.barrattdevelopments.co.uk/media/media-releases/pr-2024/pr-21-06-2024 |website=www.nhbc.co.uk}}</ref>
===Barratt Redrow=== On 7 February 2024, the company made an agreed offer to acquire Redrow for £2.5 billion.<ref>{{cite news |url=https://www.theguardian.com/business/2024/feb/07/uk-biggest-housebuilder-barratt-to-buy-rival-redrow |title=UK's biggest housebuilder Barratt to buy rival Redrow for £2.5bn |newspaper=The Guardian |date=7 February 2024 |access-date= 7 February 2024}}</ref> On the same date, both firms had confirmed reduced revenue and profit.<ref name="Gayne-07Feb2024">{{cite news |last1=Gayne |first1=Daniel |title=Barratt and Redrow profits down on day merger between pair announced |url=https://www.building.co.uk/news/barratt-and-redrow-profits-down-on-day-merger-between-pair-announced/5127681.article |access-date=8 February 2024 |work=Building |date=7 February 2024}}</ref> The merged businesses would create a house builder, Barratt Redrow, turning over £7.45 billion and delivering over 22,600 homes a year.<ref name="Morby-07Feb2024">{{cite news |last1=Morby |first1=Aaron |title=Barratt strikes deal to buy Redrow for £2.5bn |url=https://www.constructionenquirer.com/2024/02/07/barratt-strikes-deal-buy-redrow-for-2-54bn/ |access-date=8 February 2024 |work=Construction Enquirer |date=7 February 2024}}</ref> Subject to regulatory and shareholder approval, the deal was expected to be completed in the second quarter of 2024.<ref name="Morby-07Feb2024"/> The deal would see around 800 jobs lost and nine offices close.<ref name="Prior-08Feb2024">{{cite news |last1=Prior |first1=Grant |title=Barratt Redrow deal could see 800 jobs lost |url=https://www.constructionenquirer.com/2024/02/08/barratt-redrow-deal-could-see-800-jobs-lost/ |access-date=8 February 2024 |work=Construction Enquirer |date=8 February 2024}}</ref> In March 2024, the Competition and Markets Authority (CMA) opened an investigation into the proposed acquisition, assessing if it might "result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services."<ref name="Prior-15Mar2024">{{cite news |last1=Prior |first1=Grant |title=Competition watchdog probes Barratt Redrow merger |url=https://www.constructionenquirer.com/2024/03/15/competition-watchdog-probes-barratt-redrow-merger/ |access-date=15 March 2024 |work=Construction Enquirer |date=15 March 2024}}</ref> In May 2024, the proposed merger was approved by shareholders, but the deal remained subject to CMA clearance.<ref name="Morby-16May2024">{{cite news |last1=Morby |first1=Aaron |title=Shareholders approve £2.5bn Barratt and Redrow merger |url=https://www.constructionenquirer.com/2024/05/16/barratt-and-redrow-shareholders-approve-2-5bn-merger/ |access-date=16 May 2024 |work=Construction Enquirer |date=16 May 2024}}</ref> In August 2024, the CMA said the proposed deal raised competition concerns only in one specific part of the country: north Shropshire. Barratt and Redrow could make submissions to address the CMA's concerns about that area, to avoid the deal being subject to an in-depth phase two review.<ref>{{cite news |title=Barratt-Redrow merger competition concerns limited to Shropshire |url=https://www.theconstructionindex.co.uk/news/view/barratt-redrow-merger-competition-concerns-limited-to-shropshire |access-date=8 August 2024 |work=The Construction Index |date=8 August 2024}}</ref> On 22 August 2024, Barratt officially took ownership of Redrow shares, but both firms would continue to operate independently until granting of final CMA approval.<ref>{{cite news |last1=Gayne |first1=Daniel |title=Barratt officially takes ownership of Redrow shares |url=https://www.housingtoday.co.uk/news/barratt-officially-takes-ownership-of-redrow-shares/5131136.article |access-date=24 August 2024 |work=Housing Today |date=22 August 2024}}</ref> On 7 October 2024, after the CMA investigation was closed, the company became ''Barratt Redrow'' plc.<ref>{{cite news |title=Barratt's Redrow acquisition clears final hurdle |url=https://www.theconstructionindex.co.uk/news/view/barratts-redrow-acquisition-clears-final-hurdle |access-date=7 October 2024 |work=The Construction Index |date=7 October 2024}}</ref> Following the completion of the takeover, CEO David Thomas revealed plans to find £90m in cost savings through consolidation of the supply chain, closure of nine divisional offices, and consolidation of central and support functions.<ref name=Morby-23Oct2024>{{cite news |last1=Morby |first1=Aaron |title=Barratt Redrow starts hunt for supply chain savings |url=https://www.constructionenquirer.com/2024/10/23/barratt-redrow-starts-hunt-for-supply-chain-savings/ |access-date=23 October 2024 |work=Construction Enquirer |date=23 October 2024}}</ref>
Also in February 2024, Barratt and Redrow were among eight UK housebuilders targeted by the CMA in an investigation into suspected breaches of competition law. The CMA said it had evidence that firms shared commercially sensitive information with competitors, influencing the build-out of sites and the prices of new homes.<ref name="Morby-26 February 2024">{{cite news |last1=Morby |first1=Aaron |title=Competition probe launched into 8 major house builders |url=https://www.constructionenquirer.com/2024/02/26/competition-probe-launched-into-8-major-house-builders/ |access-date=26 February 2024 |work=Construction Enquirer |date=26 February 2024}}</ref> In January 2025, the CMA said it was conducting further investigations into suspected anti-competitive conduct by house-builders; after Barratt acquired Redrow, the number of companies under investigation reduced from eight to seven.<ref>{{cite news |title=Watchdog keeps digging into house-builders' collusion |url=https://www.theconstructionindex.co.uk/news/view/watchdog-keeps-digging-into-house-builders-collusion |access-date=13 January 2025 |work=The Construction Index |date=13 January 2023}}</ref> In June 2025, the CMA investigation was extended to August 2025.<ref>{{cite news |last1=Prior |first1=Grant |title=Another extension for competition probe into house builders |url=https://www.constructionenquirer.com/2025/06/11/another-extension-for-competition-probe-into-house-builders/ |access-date=12 June 2025 |work=Construction Enquirer |date=11 June 2025}}</ref> In July 2025, the housebuilders offered to pay £100 million towards affordable housing programmes as part of an agreement to reform practices on information sharing and end the investigation without admitting any liability or wrongdoing.<ref>{{cite news |last1=Prior |first1=Grant |title=House builders offer £100m to drop competition probe |url=https://www.constructionenquirer.com/2025/07/09/house-builders-offer-100m-to-drop-competition-probe/ |access-date=9 July 2025 |work=Construction Enquirer |date=9 July 2025}}</ref> On 30 October 2025, the CMA confirmed its investigation had been dropped in return for a £100m payment towards affordable homes and other measures including the development of industry-wide guidance on information sharing and agreements not to share certain types of information with other housebuilders.<ref>{{cite news |last1=Weinfass |first1=Ian |title=Housebuilder collusion probe formally dropped with £100m affordable homes payment |url=https://www.constructionnews.co.uk/legal/housebuilder-collusion-probe-formally-dropped-with-100m-affordable-homes-payment-31-10-2025/ |access-date=31 October 2025 |work=Construction News |date=31 October 2025}}</ref>
In September 2024, prior to final CMA authorisation of Barratt's Redrow acquisition, Barratt was overtaken by Vistry as Britain's biggest housebuilder, after it forecast it would deliver more than 18,000 homes (later revised downwards to 17,500),<ref name="TCI-8Nov24">{{cite news |title=Vistry admits to additional costing errors |url=https://www.theconstructionindex.co.uk/news/view/vistry-admits-to-additional-costing-errors |access-date=8 November 2024 |work=The Construction Index |date=8 November 2024}}</ref> surpassing Barratt's 14,000.<ref>{{cite news |last1=Morby |first1=Aaron |title=Vistry unseats Barratt as Britain's biggest house builder |url=https://www.constructionenquirer.com/2024/09/05/vistry-unseats-barratt-as-britains-biggest-house-builder/ |access-date=5 September 2024 |work=Construction Enquirer |date=5 September 2024}}</ref> In October 2024, Barratt Redrow said it expected to complete between 16,600 and 17,200 homes in 2025;<ref name=Morby-23Oct2024/> CEO David Thomas later said Barratt Redrow expected to build 22,000 homes a year.<ref>{{cite news |last1=Thomas |first1=David |title=Why we as Barratt Redrow expect to build 22,000 homes a year |url=https://www.building.co.uk/comment/why-we-as-barratt-redrow-expect-to-build-22000-homes-a-year/5132532.article |access-date=2 November 2024 |work=Building |date=2 November 2024}}</ref> In April 2025, it was announced that Redrow CEO Matthew Pratt would step down in June 2025; Barratt Redrow said five of nine planned divisional office closures had been completed following the merger.<ref>{{cite news |last1=Prior |first1=Grant |title=Redrow chief steps down after Barratt merger |url=https://www.constructionenquirer.com/2025/04/15/redrow-chief-steps-down-after-barratt-merger/ |access-date=16 April 2025 |work=Construction Enquirer |date=15 April 2025}}</ref> The company aimed to eventually operate 32 UK divisions and complete 22,000 homes a year.<ref>{{cite news |last1=Gayne |first1=Daniel |title=Barratt Redrow forward sales drop but firm sticks with housebuilding targets for year |url=https://www.building.co.uk/news/barratt-redrow-forward-sales-drop-but-firm-sticks-with-housebuilding-targets-for-year/5135577.article |access-date=16 April 2025 |work=Building |date=16 April 2025}}</ref>
In the year to 29 June 2025, Barratt Redrow reported a pre-tax profit of £273.7m on revenue of £5.6bn. It said it was on track to make post-merger cost savings of £100m, with six divisional offices now closed and three to close, as it created 32 UK divisions.<ref name=PriorSept2025/>
In December 2025, the company announced its chief financial officer, Mike Scott, had resigned from the company.<ref>{{Cite web |date=2025-12-31 |title=Barratt Redrow seeks new chief executive after finance boss exits |url=https://www.thetimes.com/business/companies-markets/article/barratt-redrow-seeks-new-chief-executive-after-finance-boss-exits-jw5r6fx22 |access-date=2025-12-31 |website=www.thetimes.com |language=en}}</ref> In March 2026, Barratt Redrow appointed Dean Banks as its next CEO; Banks will join the group from Australian infrastructure specialist Ventia in late 2026.<ref>{{cite news |last1=Prior |first1=Grant |title=Former Balfour chief to become Barratt Redrow CEO |url=https://www.constructionenquirer.com/2026/03/04/former-balfour-chief-becomes-barratt-redrow-ceo/ |access-date=4 March 2026 |work=Construction Enquirer |date=4 March 2026}}</ref>
== Operations ==
=== UK house building === Barratt Redrow plc owns four consumer brands: Barratt Homes, Barratt London, David Wilson Homes and Redrow.<ref>{{cite web |title=Our Brands |url=https://www.barrattredrow.co.uk/about-us/brands |access-date=27 November 2017 |work=barratthomes.co.uk}}</ref>
=== Commercial construction === Barratt owns and operates Wilson Bowden Developments, which develops commercial property in the UK.<ref>{{cite web |url=http://www.business-sale.com/wilson-bowden-developments-in-a-potential-sale-bsr-aquisitions-12592228A.html |title=Wilson Bowden Developments in a Potential Sale |work=business-sale.com |access-date=15 March 2015}}</ref>
Among projects led by Wilson Bowden Developments is Optimus Point, a 74-acre greenfield site at Glenfield, Leicestershire.<ref>{{Cite web |title=Optimus Point |url=https://www.optimuspoint.com/ |access-date=1 March 2021 |website=www.optimuspoint.com}}</ref>
Barratt Redrow also owns Oregon Timber Frame, a timber frame manufacturing company with factories in Selkirk and Derby.<ref>{{Cite web |title=Oregon Timber Frame {{!}} Oregon is one of the UK's largest independent timber frame manufacturers |url=https://www.oregon.co.uk/ |access-date=2025-02-23 |website=www.oregon.co.uk}}</ref>
== Criticisms == In 2017, the ''Daily Telegraph'' noted "10 purported crashes in just 48 hours" on what they regard as arguably "Britain’s most dangerous roundabout." Derbyshire County Council removed wrecked vehicles from the roundabout at Mickleover which drivers said was poorly lit and badly signed. The council said that Barratts were responsible for the design though it had been checked by their engineers.<ref>{{cite news |url=https://www.telegraph.co.uk/news/2017/07/31/worst-roundabout-britain-multiple-crashes-lethal-roundabout/ |title=Worst roundabout in Britain? Multiple crashes at 'lethal' roundabout cause concern |first1=Victoria |last1=Ward |first2=Helena |last2=Horton |work=The Daily Telegraph |date=31 July 2017 |access-date=4 August 2017}}</ref>
In 2019, the CMA launched an investigation into alleged mis-selling of homes on a leasehold basis, with Barratt one of four housebuilders targeted in September 2020. In August 2022, after "careful scrutiny of the evidence gathered", and an assessment that a successful legal case was unlikely, the CMA closed its three-year investigation citing lack of evidence, while noting "Barratt’s sales practices have changed, and they no longer sell leasehold houses."<ref name="Gardiner-16Aug2022">{{cite news |last1=Gardiner |first1=Joey |title=Regulator drops 'leasehold' investigation into Barratt without taking action |url=https://www.building.co.uk/news/regulator-drops-leasehold-investigation-into-barratt-without-taking-action/5118813.article |access-date=16 August 2022 |work=Building |date=16 August 2021}}</ref> thumb|The Citiscape building in Croydon clad in scaffolding due to the removal of flammable cladding and defects found in the reinforced concrete frame In 2020, during remedial work to replace flammable cladding at the Citiscape high-rise in Croydon, defects were found in the reinforced concrete frame of the building. A further review found similar defects in seven other developments. Remediation was set to cost £70m in 2020, but had increased a year later to £163m.<ref name="Morby-06Jul2020">{{cite news |last1=Morby |first1=Aaron |title=Barratt uncovers weak concrete frames at seven high rises |url=https://www.constructionenquirer.com/2020/07/06/weak-concrete-frames-uncovered-at-7-barratt-high-rises/ |access-date=6 July 2020 |work=Construction Enquirer |date=6 July 2020}}</ref><ref name=163m>{{cite web| url=https://www.constructionenquirer.com/2021/05/06/barratt-problem-concrete-frames-and-cladding-bill-hits-163m/| title=Barratt problem concrete frames and cladding bill hits £163m| author=Grant Prior| work=Construction Enquirer| date=2021-05-06| access-date=2021-06-18}}</ref> Citiscape residents were rehoused in September 2019, and in May 2021, Barratt reacquired the 95 flats at Citiscape from their leaseholders and was in the process of reacquiring the freehold from a Vincent Tchenguiz controlled company.<ref name=rebuy>{{cite web |url=https://www.thetimes.com/life-style/property-home/article/barratt-breaks-new-ground-buying-back-flats-after-cladding-scandal-rwpzmrbth |title=Barratt breaks new ground buying back flats after cladding scandal |first1=Louisa |last1=Clarence-Smith |first2=Martina |last2=Lees |work=The Times |date=22 May 2021 |access-date=18 June 2021}}</ref> In addition to remediation work at Citiscape, Barratt later (July 2024) identified two further London developments requiring £130 million in further work to resolve concrete frame issues.<ref>{{cite news |last1=Prior |first1=Grant |title=Concrete frame problems cost Barratt another £130m |url=https://www.constructionenquirer.com/2024/07/10/concrete-frame-problems-cost-barratt-another-130m/ |access-date=10 July 2024 |work=Construction Enquirer |date=10 July 2024}}</ref> A year later, in July 2025, Barratt Redrow revealed a further £248m charge relating to legacy building safety defects across several developments.<ref>{{cite news |last1=Morby |first1=Aaron |title=Legacy building defects return to haunt Barratt Redrow |url=https://www.constructionenquirer.com/2025/07/15/legacy-building-defects-return-to-haunt-barratt-redrow/ |access-date=15 July 2025 |work=Construction Enquirer |date=15 July 2025}}</ref> In September 2025, the group's total bill to fix building safety defects was £1,073.8m.<ref name=PriorSept2025>{{cite news |last1=Prior |first1=Grant |title=Barratt Redrow building safety bill tops £1bn |url=https://www.constructionenquirer.com/2025/09/17/barratt-redrow-building-safety-bill-tops-1bn/ |access-date=17 September 2025 |work=Construction Enquirer |date=17 September 2025}}</ref>
On 27 July 2021, an article by ''The Times'' Environment Correspondent, Ben Webster, highlighted issues over the approach to biodiversity reporting taken by Barratt subsidiary, David Wilson Homes. in relation to a green field development in the Buckinghamshire village of Maids Moreton.<ref>{{cite news |url=https://www.thetimes.com/uk/environment/article/wildlife-rules-too-easy-to-manipulate-by-builders-llg5snvnk |title=Wildlife rules 'too easy to manipulate' by builders |date=27 July 2022 |newspaper=The Times |access-date=13 June 2022}}</ref>
In September 2023, Barratt submitted plans to demolish 83 new homes on its Darwin Green estate in Cambridge which had been built with faulty foundations.<ref name="Prior-27Sep2023">{{cite news |last1=Prior |first1=Grant |title=Barratt to demolish more homes with faulty foundations |url=https://www.constructionenquirer.com/2023/09/27/barratt-to-demolish-more-homes-with-faulty-foundations/ |access-date=27 September 2023 |work=Construction Enquirer |date=27 September 2023}}</ref>
In October 2023, The Comet newspaper carried a report of David Wilson Homes representative Martin Wright being "told off for making threats" at a planning meeting related to the Highover Farm development in Hitchin. Planning Committee member, Councillor Daniel Allen commented "Threatening us is not a great way to make friends during a statement" after Mr Wright advised a Planning Inspector could "strike out" some of the developer contributions.<ref>{{Cite web |url=https://www.thecomet.net/news/23858208.hitchin-highover-farm-developer-told-off-making-threats/ |title=Highover Farm developer told off for 'making threats' |date=16 October 2023 |website=The Comet}}</ref>
In July 2024, ''The Guardian'' reported a home in Ivybridge, Devon, built by Barratt subsidiary David Wilson Homes and sold for £274,995, had been independently valued in 2023 at £1 due to a catalogue of major defects.<ref name=Taylor>{{cite news |last1=Taylor |first1=Diane |title='I feel sick': couple say new-build home turned into disaster valued at £1 |url=https://www.theguardian.com/money/article/2024/jul/13/new-build-home-barratt-house |access-date=18 July 2024 |work=Guardian |date=13 July 2024}}</ref> Owners of other houses on the same Ivybridge estate had also reported problems, and were engaged in legal action seeking redress from Barratt.<ref name=Taylor/>
On 27 May 2025 the ''BBC'' reported that the local water recycling centre in Buckingham did not have capacity to support a proposed housing development in Maids Moreton, Buckinghamshire.<ref>{{cite news|url=https://www.bbc.co.uk/news/articles/cn055462jy1o|title=Battle begins over new homes approved in historic village without sewage capacity|date=27 May 2025|newspaper=BBC|access-date=27 May 2025}}</ref>
== References == {{reflist|30em}}
== External links == {{commons category|Barratt Developments}} * [https://www.barrattredrow.co.uk/ Official website] * {{OpenCorp|Barratt Developments}} {{Construction industry in the United Kingdom}} {{Real estate in the United Kingdom}} {{FTSE 100 Index constituents}}
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Category:Barratt Developments Category:British companies established in 1958 Category:Housebuilding companies of the United Kingdom Category:Companies listed on the London Stock Exchange Category:Companies in the FTSE 100 Index Category:Companies based in Leicestershire Category:1958 establishments in England