St. Modwen Properties
Lua error in Module:Infobox at line 314: malformed pattern (missing ']'). St. Modwen Properties plc (LSE: SMP) 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 owns a portfolio of over 180 property investment and development sites across the UK.
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.[2] In 1986 the management reversed the business into Redman Heenan International plc, a listed former engineering concern that had become a shell company.[2] At that time the name was changed to St. Modwen Properties plc.[2] In the 1980s the company developed the Stoke-on-Trent Garden Festival site.[2]
More recently the company has taken ownership of large former industrial sites such as the former MG Rover site at Longbridge.[3] Other sites in St. Modwen's development portfolio include the brownfield reclamation site at Glan Llyn and the town centre sites at Edmonton, Farnborough and Wembley Central[2] as well as the Great Homer Street site in Liverpool.[4]
Operations
The company has a strategy to add value to the properties it owns through remediation, enhanced planning approvals and asset management. The company's portfolio comprises some 5,800 developable acres.[5] The portfolio was valued at £0.9bn at 30 November 2014.[1]
The land at the former MG Rover Longbridge site was obtained by St Modwen Properties at a fraction of the actual value after the company paid a £100,000 commission to a firm run by an associate of the Phoenix Four.[6]
References
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- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Full Year Results Presentation
- ↑ MG Rover report reveals lies, cover-up and bribery Daily Telegraph, 11 September 2009
