Congleton housing firm bought for a quarter-of-a-billion pounds

By Alex Greensmith

3rd Feb 2022 | Local News

Gladman are based in the Congleton Business Park on Alexandria Way, CW12 1LB.
Gladman are based in the Congleton Business Park on Alexandria Way, CW12 1LB.

A Congleton housing developers has been purchased for £250 million pounds.

Gladman Development Limited, who have a premises in the Congleton Business Park on Alexandria Way, have been bought by a Leicestershire-based national property developer.

Barratt Developments Limited, which claims to be the UK's leading sustainable house builder, acquired the Congleton company for a total cash consideration of £250m on a debt free and cash free basis.

The acquisition means Gladman's founders will celebrate their 35th anniversary year in-style.

Gladman operates as a land promoter in the UK, and despite being based in our town, have a particular focus in the south of England.

The Alexandra Way home development experts employ 140 in our town. And in good news, no jobs for the Congleton company will be lost from the acquisition.

There is more good news for the day-to-day life of their employees, as they will continue as a standalone operation.

Chairman David Gladman and CEO Victoria Hesson will retain their top roles.

In a statement, their new owners said: "In its last financial year, to 31 March 2021, Gladman, despite the ongoing disruption created by COVID-19, secured planning consent on 2,760 plots across 15 sites with a high planning success rate and, through its targeted marketing, secured sales of 2,796 plots on 18 sites to housebuilders and housing associations. In the year to 31 March 2021 Gladman reported profit before tax of £6.9m and gross assets of £212.3m at that date.

"Gladman's existing portfolio, comprising approximately 406 potential sites with an average site size of 242 plots, is expected to deliver an incremental 500 home completions per annum for Barratt from FY25.

Commenting on the acquisition, Steven Boyes, Chief Operating Officer and Deputy Chief Executive at Barratt Developments PLC said:

"Barratt has built a reputation for a disciplined and competitive approach to acquiring land and Gladman's strong credentials in identifying attractive land and promoting sites through the planning process will be an important addition to the Group. As always, we are working hard to help address the shortage of homes across the country and today's acquisition of a long-standing and trusted partner will further strengthen our ability to deliver our medium-term target to build 20,000 high quality homes per year."

Congleton residents may remember Gladman tried - and failed - to get a residential estate built on site on Macclesfield Road, Eaton, just outside of Congleton.

Three years later, this seems a distant memory as they have an extra £250 million in the kitty.

Victoria Hesson, Chief Executive at Gladman Developments, commented:

"We are very proud of the expertise, track record and reputation Gladman has built over the past 34 years. By becoming part of Barratt we can accelerate our growth as the UK's leading land promoter and help to realise the potential of Barratt's attractive strategic land holdings, together delivering more high quality homes and sustainable developments across the country."

As well as homes, Gladman also deal with commercial builds such as office space.

Steven Boyes, Chief Operating Officer and Deputy Chief Executive at Barratt Developments PLC was delighted to buy the Congleton company.

"Barratt has built a reputation for a disciplined and competitive approach to acquiring land and Gladman's strong credentials in identifying attractive land and promoting sites through the planning process will be an important addition to the Group," he said.

"As always, we are working hard to help address the shortage of homes across the country and today's acquisition of a long-standing and trusted partner will further strengthen our ability to deliver our medium-term target to build 20,000 high quality homes per year."

If you have land, and would wish to work with a local property developer, you can contact Gladman on 01260 288800, or pop into their Gladman House office.

"We are very proud of the expertise, track record and reputation Gladman has built over the past 34 years," added Victoria Hesson, Chief Executive at Gladman Developments.

"By becoming part of Barratt we can accelerate our growth as the UK's leading land promoter and help to realise the potential of Barratt's attractive strategic land holdings, together delivering more high quality homes and sustainable developments across the country."

Congleton: You can learn more about Gladman here.

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