St. Modwen Properties


St. Modwen Properties plc is a British-based property investment and development business specialising in the regeneration and remediation of brownfield land and urban environments. It is headquartered in Birmingham and has a network of seven regional offices across the UK. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

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 site.
In January 2004 the company acquired a 230-acre site at Longbridge from Phoenix Venture Holdings. 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.
In January 2013 the company entered into a development agreement for the New Covent Garden Market site in London and in March 2013 the company entered into a development agreement for the first phase of Swansea University's Bay Campus.
In June 2016 the company entered into development agreements for the Spray Street Quarter in Woolwich, a regeneration project in joint venture with Notting Hill Housing to create a mixed-use development; Chippenham Gateway in Wiltshire, a 79-acre site to be developed into a 1 million sq ft industrial park; and Stanton Cross, Wellingborough, a project involving 1 million sq ft of industrial accommodation.
In July 2016 the company established a private rented sector business unit.

Operations

The company has three different activities:
The company owned a property portfolio valued at £1.0 billion at 30 November 2019.