Berkeley Group Holdings
Encyclopedia
The Berkeley Group Holdings plc is a British
housebuilding company based in Cobham
, Surrey
. It is listed on the London Stock Exchange
and is a constituent of the FTSE 250 Index
.
and Jim Farrer in Weybridge
in 1976 as Berkeley Homes. Pidgley (who was the dominant partner) and Farrer had previously run the housing division of Crest Homes
and it was their aim to focus on executive housing on single plots or small sites. Over the next few years, Berkeley expanded across the home counties and, although still building less than 100 houses a year, it floated on the Unlisted Securities Market
in 1984.
After the flotation, Berkeley expanded geographically to the west, the south midlands and East Anglia; it also formed a joint venture, St George, to build in central London. By 1988, Berkeley was building over 600 executive homes
a year. By then Pidgley was aware of the overheating in the housing market and sold houses aggressively to realise cash. For two years the company did no more than break even but its cash position was strong and in 1991 it was able to purchase the Manchester-based Crosby Homes
and the outstanding 50 per cent of St George; Berkeley also began buying large development sites at depressed prices. The 1990s was the decade in which Berkeley moved its operational orientation to major urban regeneration sites in London, Birmingham, Manchester and other northern cities.
In the early 2000s, Berkely refined its strategy to concentrate on fewer schemes, primarily large scale urban redevelopment in the London area. In 2003 it announced the deferred sale of Crosby Homes. The reduction in scale was intended to generate surplus cash and in 2004 a scheme of arrangement was announced to return £1.45m to shareholders.
In 2011 Berkeley won the Management Today Most Admired Company award.
) and St James Homes (design conscious developments) brands. It is also involved in urban redevelopment programs via Berkeley Community Villages and in commercial property via Berkeley Commercial and has a subsidiary called Berkeley First which builds student and keyworker accommodation.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
housebuilding company based in Cobham
Cobham, Surrey
Cobham is a town in the Borough of Elmbridge in Surrey, England, about south-west of central London and north of Leatherhead. Elmbridge has been acclaimed by the Daily Mail as the best place to live in the UK, and Cobham is a prosperous part of the London commuter belt...
, Surrey
Surrey
Surrey is a county in the South East of England and is one of the Home Counties. The county borders Greater London, Kent, East Sussex, West Sussex, Hampshire and Berkshire. The historic county town is Guildford. Surrey County Council sits at Kingston upon Thames, although this has been part of...
. It is listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
.
History
The Company was founded by Tony PidgleyTony Pidgley
Anthony William Pidgley is the founder of Berkeley Group Holdings, one of the United Kingdom's largest housebuilding businesses.-Career:...
and Jim Farrer in Weybridge
Weybridge
Weybridge is a town in the Elmbridge district of Surrey in South East England. It is bounded to the north by the River Thames at the mouth of the River Wey, from which it gets its name...
in 1976 as Berkeley Homes. Pidgley (who was the dominant partner) and Farrer had previously run the housing division of Crest Homes
Crest Nicholson
Crest Nicholson is a British housebuilding company based in Chertsey, Surrey.-History:The Company was founded by Bryan Skinner in 1963 as Crest Homes and floated on the London Stock Exchange in 1968. One of the characteristics that differentiated Crest from most other housebuilders of the time was...
and it was their aim to focus on executive housing on single plots or small sites. Over the next few years, Berkeley expanded across the home counties and, although still building less than 100 houses a year, it floated on the Unlisted Securities Market
Unlisted Securities Market
The Unlisted Securities Market , which ran from 1980 to 1996, was a stock exchange set up by the London Stock Exchange to cater for companies too small to qualify for a full listing....
in 1984.
After the flotation, Berkeley expanded geographically to the west, the south midlands and East Anglia; it also formed a joint venture, St George, to build in central London. By 1988, Berkeley was building over 600 executive homes
Executive homes
Executive home is a marketing term for a moderately large and well-appointed house.Such houses were formerly described as mansionettes or bijou residences. The word mansion historically denotes homes with more character or uniqueness than an average executive home...
a year. By then Pidgley was aware of the overheating in the housing market and sold houses aggressively to realise cash. For two years the company did no more than break even but its cash position was strong and in 1991 it was able to purchase the Manchester-based Crosby Homes
Crosby Homes
Lend Lease Residential Development is the British residential development division of the Australia-based global property developer Lend Lease.-History:...
and the outstanding 50 per cent of St George; Berkeley also began buying large development sites at depressed prices. The 1990s was the decade in which Berkeley moved its operational orientation to major urban regeneration sites in London, Birmingham, Manchester and other northern cities.
In the early 2000s, Berkely refined its strategy to concentrate on fewer schemes, primarily large scale urban redevelopment in the London area. In 2003 it announced the deferred sale of Crosby Homes. The reduction in scale was intended to generate surplus cash and in 2004 a scheme of arrangement was announced to return £1.45m to shareholders.
In 2011 Berkeley won the Management Today Most Admired Company award.
Operations
The Company now builds houses and flats under the Berkeley Homes, St George plc (developments in LondonLondon
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
) and St James Homes (design conscious developments) brands. It is also involved in urban redevelopment programs via Berkeley Community Villages and in commercial property via Berkeley Commercial and has a subsidiary called Berkeley First which builds student and keyworker accommodation.