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

brownfield land Brownfield is previously-developed land that has been abandoned or underused, and which may carry pollution, or a risk of pollution, from industrial use. The specific definition of brownfield land varies and is decided by policy makers and l ...

and urban environments. It is headquartered in

Birmingham Birmingham ( ) is a City status in the United Kingdom, city and metropolitan borough in the metropolitan county of West Midlands (county), West Midlands, within the wider West Midlands (region), West Midlands region, in England. It is the Lis ...

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

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

until it was acquired by

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who h ...

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 land f ...

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

Longbridge Longbridge is an area in the south-west of Birmingham, England, located near the border with Worcestershire, historically being within this place. Public transport Longbridge is described as a hub for public transport with a number of bus ...

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.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 f ...

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

Swansea University Swansea University () 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. In 1996, it chang ...

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

Woolwich Woolwich () is a town in South London, 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 mainta ...

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

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

; Chippenham Gateway in

Wiltshire Wiltshire (; abbreviated to Wilts) is a ceremonial county in South West England. It borders Gloucestershire to the north, Oxfordshire to the north-east, Berkshire to the east, Hampshire to the south-east, Dorset to the south, and Somerset to ...

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

Wellingborough Wellingborough ( ) is a market town in the North Northamptonshire, Unitary Authority area, England, from London and from Northampton, north of the River Nene. Originally named "Wendelingburgh" (the stronghold of Wændel's people), the Anglo ...

, a project involving 1 million sq ft of industrial accommodation. In July 2016 the company established a private rented sector (PRS) business unit. In 2018, the

Court of Appeal An appellate court, commonly called a court of appeal(s), appeal court, court of second instance or second instance court, is any court of law that is empowered to Hearing (law), hear a Legal case, case upon appeal from a trial court or other ...

ruled that in entering a entering a development agreement with St. Modwen to develop an industrial estate in Newbury,

West Berkshire Council West Berkshire Council is the local authority of West Berkshire in Berkshire, England. The council was created in 1974 as Newbury District Council, and was a lower-tier district council until 1998. The district was renamed West Berkshire on 1 Ap ...

had "effectively agreed to act unlawfully in the future". The disposal of the land in question was seen by the Council as a "land transaction" rather than a public works contract, and the opportunity to acquire the land was advertised so as to secure interested bids and "best consideration" in accordance with the

Local Government Act 1972 The Local Government Act 1972 (c. 70) is an act of the Parliament of the United Kingdom that reformed local government in England and Wales on 1 April 1974. It was one of the most significant acts of Parliament to be passed by the Heath Gov ...

. The agreement allowed the developer the option to draw down land under a series of long leases, but if an option was taken up, the developer was contractually obliged to develop the site. The Court of Appeal, overruling the

Administrative Court An administrative court is a type of specialized court on administrative law, particularly disputes concerning the exercise of public power. Their role is to ascertain that official acts are consistent with the law. Such courts are usually co ...

's judgment at first instance, held that such "contingent obligations" met the criteria for being considered a public works contract, whose procurement should have been undertaken in accordance with the full requirements of the Public Contracts Regulations 2015. The development agreement was ruled "ineffective". The company agreed to be acquired by

in a £1.24 billion (€1.4 billion) transaction in May 2021. In December 2024,

Miller Homes Miller Homes Limited is a privately held housebuilding company based in the United Kingdom. History The company was established by Sir James Miller in 1934. Expansion led to James' brothers, John and Lawrence, joining him in the business. Mi ...

agreed a deal to buy St. Modwen Homes in a deal worth around £215 million, subject to regulatory approval in early 2025.

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