We’ve today announced that we will be expanding our presence in England by opening a new Southern division. The strategic decision comes as demand for homes in London’s commuter belt continues to grow. The new division is expected to be operational before the end of the 2022 financial year.
Covering Surrey and East and West Sussex, the new Southern division will sit separately to our existing Southern Counties and South East divisions and will be headed up by recently appointed Managing Director, Rod Martin, former Divisional Managing Director at Taylor Wimpey for this area.
At maturity, the new division aims to build 600 new homes, annually, creating almost 2,000 new jobs for local people [1].
Our latest research into how consumer trends [2] have changed as result of the Covid-19 pandemic revealed that for almost half of Britons (44%), the amount of outside space will be the biggest priority when moving to their next home, while a third (32%) will be prioritising the amount of floor space they have.
These trends mean more people are heading to London’s commuter belt to areas with excellent connectivity and greater availability of private outdoor space. According to the latest government figures, sales transactions have increased by 26% and 14% [3] across Surrey and Sussex, respectively.
Matthew Pratt, Group Chief Executive, commented: “London’s commuter belt has been a key growth area for us in recent years, evidenced by the launch of our Thames Valley division in 2018. Now, in the wake of the pandemic, the trend has been accelerated with an increasing number of people seeking more space both inside and outside of the home.
“Redrow already has a very successful presence in the South East, including across Berkshire, Hampshire, Kent and West Sussex so it makes sense to expand our operations in line with customer demand. With Rod’s deep experience of Surrey and Sussex’s residential housing markets, we look forward to making our mark in this area and providing more high-quality new homes for local people.”
Rod Martin, Managing Director of our Southern Division, commented: “I am thrilled to be joining the ambitious team at Redrow and am looking forward to building out Redrow’s operations in a region of significant growth. With modern life shifting significantly over the past 14 months and hybrid working patterns becoming the new normal, the Capital’s commuter belt is booming, and there is a huge opportunity for us to tap into this growing market by giving prospective homebuyers the option of our award-winning Heritage Collection homes.”
[1] The Economic Footprint of HouseBuilding in England and Wales
[2] Redrow’s research of 2,000 consumers, conducted by Opinium, December 2020
