St. Modwen Properties limited is a British-based property investment and development business specialising in the regeneration and remediation of

brownfield land In urban planning, brownfield land is any previously developed land that is not currently in use. It may be potentially contaminated, but this is not required for the area to be considered brownfield. The term is also used to describe land pre ...

and urban environments. It is headquartered in

Birmingham Birmingham ( ) is a city and metropolitan borough in the metropolitan county of West Midlands in England. It is the second-largest city in the United Kingdom with a population of 1.145 million in the city proper, 2.92 million in the We ...

and has a network of four regional offices across the UK. It was listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

until it was acquired by

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate b ...

in August 2021.

History

The business was founded by Sir Stanley Clarke CBE and his brother-in-law Jim Leavesley in 1966 as a property development business called ''Clarke St. Modwen''. In 1986 the management reversed the business into Redman Heenan International plc, a listed former engineering concern that had become a shell company. At that time, in 1986, the name was changed to ''St. Modwen Properties plc''. In the 1980s the company developed the

Stoke-on-Trent Garden Festival The Stoke-on-Trent National Garden Festival was the second of Britain's national garden festivals. It was held in the city from 1 May to 26 October 1986, and was opened by the Queen. Preparation of the site involved the reclamation of l ...

site. In January 2004 the company acquired a 230-acre site at

Longbridge Longbridge is an area of Northfield in the south-west of Birmingham, England, located near the border with Worcestershire. Public Transport Longbridge is described as a hub for public transport with a number of bus services run by Kev's Co ...

from

Phoenix Venture Holdings Phoenix Venture Holdings (PVH), also known as the Phoenix Consortium, was an English company formed by four businessmen ( John Towers, Peter Beale, Nick Stephenson and John Edwards). Following BMW's break-up of the Rover Group a financially co ...

. The land at the Longbridge site was obtained by St Modwen Properties at a fraction of the actual value after the company paid a £100,000 property commission to a firm run by an associate of the

Phoenix Four Phoenix Venture Holdings (PVH), also known as the Phoenix Consortium, was an English company formed by four businessmen ( John Towers, Peter Beale, Nick Stephenson and John Edwards). Following BMW's break-up of the Rover Group a financially com ...

.MG Rover report reveals lies, cover-up and bribery
''The Daily Telegraph'', 11 September 2009 In January 2013 the company entered into a development agreement for the

New Covent Garden Market New Covent Garden Market in Nine Elms, London, is the largest wholesale fruit, vegetable and flower market in the United Kingdom. It covers a site of and is home to about 200 fruit, vegetable and flower companies. The market serves 40% of the ...

site in London and in March 2013 the company entered into a development agreement for the first phase of

Swansea University Swansea University ( cy, Prifysgol Abertawe) is a public university, public research university located in Swansea, Wales, United Kingdom. It was chartered as University College of Swansea in 1920, as the fourth college of the University of Wales. ...

's Bay Campus. In June 2016 the company entered into development agreements for the Spray Street Quarter in

Woolwich Woolwich () is a district in southeast London, England, within the Royal Borough of Greenwich. The district's location on the River Thames led to its status as an important naval, military and industrial area; a role that was maintained thr ...

, a regeneration project in joint venture with Notting Hill Housing to create a

mixed-use development Mixed-use is a kind of urban development, urban design, urban planning and/or a zoning type that blends multiple uses, such as residential, commercial, cultural, institutional, or entertainment, into one space, where those functions are to ...

; Chippenham Gateway in

Wiltshire Wiltshire (; abbreviated Wilts) is a historic and ceremonial county in South West England with an area of . It is landlocked and borders the counties of Dorset to the southwest, Somerset to the west, Hampshire to the southeast, Gloucestershire ...

, a 79-acre site to be developed into a 1 million sq ft industrial park; and Stanton Cross,

Wellingborough Wellingborough ( ) is a large market and commuter town in the unitary authority area of North Northamptonshire in the ceremonial county of Northamptonshire, England, 65 miles from London and from Northampton on the north side of the River Nen ...

, a project involving 1 million sq ft of industrial accommodation. In July 2016 the company established a private rented sector (PRS) business unit. The company agreed to be acquired by

in a £1.24 billion (€1.4 billion) transaction in May 2021.

Operations

The company has three business units: * St. Modwen Homes * St. Modwen Industrial & Logistics * Strategic Land and Regeneration The company owned a property portfolio valued at £0.9 billion at 30 November 2020.

References

External links

*
St. Modwen Homes Website
{{DEFAULTSORT:Saint Modwen Properties Companies based in Birmingham, West Midlands Real estate companies established in 1966 Property companies of the United Kingdom Companies formerly listed on the London Stock Exchange 1966 establishments in the United Kingdom