George Wimpey
Encyclopedia
George Wimpey was formed in 1880 and, based in Hammersmith
, operated largely as a road surfacing contractor. The business was acquired by Godfrey Mitchell in 1919 and he developed it into the UK’s pre-eminent construction and housebuilding firm. In 2007, Wimpey merged with Taylor Woodrow
to create Taylor Wimpey
. Wimpey was first listed on the London Stock Exchange
in 1934.
and Walter Tomes (the latter sold out in 1893) as a stone-working partnership in 1880 in Hammersmith
.
The company built Hammersmith
Town Hall in 1896 and went on to lay the foundations for the first "electric tramway" in London
in the late 1890s. The company also built the 140 acre (0.5665604 km²) White City Stadium
complex which included a series of pavilions and gardens for the Franco-British Exhibition of 1908 as well as an 80,000-seat Olympic stadium for the 1908 Olympic Games
.
bought the firm and decided to retain the Wimpey name. Sir Godfrey Mitchell
remained George Wimpey's executive chairman until 1973.
Mitchell built up a fleet of steam rollers and took contracts for public and private paving jobs. Much of the work was for new housing estates and Mitchell observed that the company could make more money as a developer than just as a contractor; having tested this first with his own money, he initiated the company's first residential development, the Greenford Park Estate, in 1928.
By 1930, Wimpey was building around 500 houses a year, rising to a peak of 1,370 in 1934. However, private housebuildilng ceased on the outbreak of war in 1939 and Wimpey concentrated on defence work. It built 93 aerodromes, factories and army camps, and finished the war as one of the country's largest contractors. In the immediate post-war period, building controls prevented any substantial return to private housebuilding and Wimpey turned instead to the local authority market and by the early 1950s Wimpey was building 18,000 local authority houses a year. It was also expanding its building and civil engineering divisions, particularly overseas where it became one of the larger international contractors.
The end of building controls in 1954 allowed Wimpey to re-enter the private housing market. It did so in a substantial way through its regional structure, becoming the country's first national housebuilder; by 1972 Wimpey was building private houses at an annual rate of 12,500, some three times the rate of its nearest competitor.
Although Wimpey experienced rising profits in the 1970s, thanks to its middle east contracting, the group was beginning to lose direction. Godfrey Mitchell may have retired as Chairman in 1973 but he remained a director and a dominant figure until his eventual retirement from the Board in 1981, following his 90th birthday. Operational control was diffused between four joint managing directors, and the regions rather than the centre were the dominant force. Unlike some of the newer housebuilders, Wimpey's housing was mixed in operationally with its construction business. Volumes declined and, by the end of the 1980s, private housing sales were down to around 5,000 houses a year.
in return for the latter's housing division (largely McLean Homes
). Wimpey was once again selling 12,000 private houses a year. Two more major housing acquisitions followed, both divisions of contractors seeking to focus on their core contracting business. In 2001, McAlpine Homes was acquired from Alfred McAlpine
, bringing with it a 4,000 houses a year business; a year later Wimpey bought the 1,200 houses a year Laing Homes from John Laing.
In March 2007, the company announced plans for a £6 billion nil-premium merger with Taylor Woodrow
, to be called Taylor Wimpey
. The merger was effected by means of a scheme of arrangement, leaving the original Taylor Woodrow shareholders with 51% of the new Taylor Wimpey. Taylor Woodrow provided the new chairman and finance director, while the chief executive and the UK managing director came from Wimpey.
In the 1970s George Wimpey became the UK's largest private house builder selling 106,440 homes in the decade, and in the 1980s George Wimpey began to reinforce Wimpey Homes as a brand, focusing on quality compact housing. Advertising, featuring the famous Wimpey cat, ensured Wimpey Homes became a household name in house building.
By 2002, there were four UK brands: Wimpey Homes, McLean Homes, McAlpine Homes and Laing Homes. Under the leadership of the current chief executive, Peter Redfern, (who was then head of UK housing), the operations were merged, and ‘Wimpey Homes’, ‘McLean Homes’ and ‘McAlpine Homes’ were replaced with ‘George Wimpey’ under a new three-dimensional purple and orange squares corporate identity. Laing Homes was retained due to its more up-market status and its greater brand recognition. This brand disappeared in June 2008 as a result of the merger with Taylor Woodrow
.
In 2006, George Wimpey launched an affordable 'G2' brand, focussing on one and two bedroom luxury apartments. Its prime target markets were value-conscious first time buyers and key workers.
Wimpey Construction was one of the leading construction businesses in the UK, Canada
and the Middle East
, engaging in a wide range of building and civil engineering activities.
Major non-housing construction projects have included the White City Stadium
completed in 1908, the Team Valley Trading Estate
completed in 1938, Heathrow Airport completed in 1946, the Clunie Dam
in Scotland
completed in 1950, the Furnas Dam in Brazil
completed in 1963, the Centre Point
building in London
completed in 1966, the Llyn Brianne Dam
completed in 1972, the HSBC Tower in Hong Kong
completed in 1985 and the Channel Tunnel
completed in 1994.
, and smaller operations in the Republic of Ireland
, the Czech Republic
, the Middle East
, and the Far East
.
trading under Morrison Homes, which was acquired in 1984 when it was based in San Francisco, Northern California
. George Wimpey later added to its US operations with the acquisition of Richardson Homes of Denver, Colorado
in 2001. Richardson has since been integrated under the Morrison brand.
Morrison Homes was initially founded in Seattle in 1905 by C.G. Morrison and moved to northern California
in 1946. Operations were extended to cover Phoenix
, Central Valley, Sacramento
, Denver, Fort Myers, Jacksonville, Orlando
, Sarasota, Tampa
, Reno
, Austin
, Dallas Fort Worth and Houston.
Hammersmith
Hammersmith is an urban centre in the London Borough of Hammersmith and Fulham in west London, England, in the United Kingdom, approximately five miles west of Charing Cross on the north bank of the River Thames...
, operated largely as a road surfacing contractor. The business was acquired by Godfrey Mitchell in 1919 and he developed it into the UK’s pre-eminent construction and housebuilding firm. In 2007, Wimpey merged with Taylor Woodrow
Taylor Woodrow
Taylor Woodrow was one of the largest British housebuilding and general construction companies. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but merged with rival George Wimpey to create Taylor Wimpey on 3 July 2007.-Early years:Frank Taylor was...
to create Taylor Wimpey
Taylor Wimpey
Taylor Wimpey plc is one of the largest British based housebuilding companies. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index...
. Wimpey was first 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...
in 1934.
Early years
The business was founded by George WimpeyGeorge Wimpey (businessman)
George Wimpey was an English stonemason, builder and founder of the house building and construction company George Wimpey, which became one of the largest construction companies in the United Kingdom.-Career:...
and Walter Tomes (the latter sold out in 1893) as a stone-working partnership in 1880 in Hammersmith
Hammersmith
Hammersmith is an urban centre in the London Borough of Hammersmith and Fulham in west London, England, in the United Kingdom, approximately five miles west of Charing Cross on the north bank of the River Thames...
.
The company built Hammersmith
Hammersmith
Hammersmith is an urban centre in the London Borough of Hammersmith and Fulham in west London, England, in the United Kingdom, approximately five miles west of Charing Cross on the north bank of the River Thames...
Town Hall in 1896 and went on to lay the foundations for the first "electric tramway" in London
London
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...
in the late 1890s. The company also built the 140 acre (0.5665604 km²) White City Stadium
White City Stadium
White City Stadium was built in White City, London, for the 1908 Summer Olympics, often seen as the precursor to the modern seater stadium and noted for hosting the finish of the first modern distance marathon. It also hosted speedway and a match at the 1966 World Cup, before the stadium was...
complex which included a series of pavilions and gardens for the Franco-British Exhibition of 1908 as well as an 80,000-seat Olympic stadium for the 1908 Olympic Games
Olympic Games
The Olympic Games is a major international event featuring summer and winter sports, in which thousands of athletes participate in a variety of competitions. The Olympic Games have come to be regarded as the world’s foremost sports competition where more than 200 nations participate...
.
The Mitchell Era
George Wimpey died in 1913 at the age of 58. His family put the business up for sale in 1919. Godfrey Way MitchellGodfrey Way Mitchell
Sir Godfrey Way Mitchell was a construction engineer and entrepreneur who built up George Wimpey into a thriving business.-Career:...
bought the firm and decided to retain the Wimpey name. Sir Godfrey Mitchell
Godfrey Way Mitchell
Sir Godfrey Way Mitchell was a construction engineer and entrepreneur who built up George Wimpey into a thriving business.-Career:...
remained George Wimpey's executive chairman until 1973.
Mitchell built up a fleet of steam rollers and took contracts for public and private paving jobs. Much of the work was for new housing estates and Mitchell observed that the company could make more money as a developer than just as a contractor; having tested this first with his own money, he initiated the company's first residential development, the Greenford Park Estate, in 1928.
By 1930, Wimpey was building around 500 houses a year, rising to a peak of 1,370 in 1934. However, private housebuildilng ceased on the outbreak of war in 1939 and Wimpey concentrated on defence work. It built 93 aerodromes, factories and army camps, and finished the war as one of the country's largest contractors. In the immediate post-war period, building controls prevented any substantial return to private housebuilding and Wimpey turned instead to the local authority market and by the early 1950s Wimpey was building 18,000 local authority houses a year. It was also expanding its building and civil engineering divisions, particularly overseas where it became one of the larger international contractors.
The end of building controls in 1954 allowed Wimpey to re-enter the private housing market. It did so in a substantial way through its regional structure, becoming the country's first national housebuilder; by 1972 Wimpey was building private houses at an annual rate of 12,500, some three times the rate of its nearest competitor.
Although Wimpey experienced rising profits in the 1970s, thanks to its middle east contracting, the group was beginning to lose direction. Godfrey Mitchell may have retired as Chairman in 1973 but he remained a director and a dominant figure until his eventual retirement from the Board in 1981, following his 90th birthday. Operational control was diffused between four joint managing directors, and the regions rather than the centre were the dominant force. Unlike some of the newer housebuilders, Wimpey's housing was mixed in operationally with its construction business. Volumes declined and, by the end of the 1980s, private housing sales were down to around 5,000 houses a year.
Acquisitions and Merger
Despite attempts to change, private housing remained contractor-dominated but in 1995 the Board announced a radical solution: Wimpey was to transfer its construction and minerals divisions to TarmacTarmac (company)
Tarmac is a company that is based in Wolverhampton in the United Kingdom and operates internationally. The company produces aggregates and road-surfacing materials, including tarmacadam, from which the company's name is derived...
in return for the latter's housing division (largely McLean Homes
McLean Homes
-History:The Company was established by John McLean in 1934 with the objective of building houses for local authorities. In 1953, trading as John McLean & Sons, the Company opened one of the first fully furnished show homes in the UK...
). Wimpey was once again selling 12,000 private houses a year. Two more major housing acquisitions followed, both divisions of contractors seeking to focus on their core contracting business. In 2001, McAlpine Homes was acquired from Alfred McAlpine
Alfred McAlpine
Alfred McAlpine plc was a British construction firm headquartered in London. It was a major road builder, and constructed over 10% of Britain's motorways, including the M6 Toll...
, bringing with it a 4,000 houses a year business; a year later Wimpey bought the 1,200 houses a year Laing Homes from John Laing.
In March 2007, the company announced plans for a £6 billion nil-premium merger with Taylor Woodrow
Taylor Woodrow
Taylor Woodrow was one of the largest British housebuilding and general construction companies. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but merged with rival George Wimpey to create Taylor Wimpey on 3 July 2007.-Early years:Frank Taylor was...
, to be called Taylor Wimpey
Taylor Wimpey
Taylor Wimpey plc is one of the largest British based housebuilding companies. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index...
. The merger was effected by means of a scheme of arrangement, leaving the original Taylor Woodrow shareholders with 51% of the new Taylor Wimpey. Taylor Woodrow provided the new chairman and finance director, while the chief executive and the UK managing director came from Wimpey.
Tudor Trust
When Mitchell took George Wimpey public in 1934, he set up a unique ownership scheme wherein the charitable Tudor Trust held about half of the firm's shares. The Tudor Trust later diluted its stake to 5% (as a result of a rights issue) from 34%, which was in itself steadily reduced over the years. Just before the Taylor Wimpey merger on 2 July 2007, the Tudor Trust no longer held a reportable interest in its own name in George Wimpey, such interest being below the declarable 3% threshold.UK housebuilding
George Wimpey UK homes were sold under three distinct brands: the core 'George Wimpey' brand, the 'Laing Homes' brand which had previously been used solely in the South East and Midlands, and the affordable 'G2' brand launched in 2006.In the 1970s George Wimpey became the UK's largest private house builder selling 106,440 homes in the decade, and in the 1980s George Wimpey began to reinforce Wimpey Homes as a brand, focusing on quality compact housing. Advertising, featuring the famous Wimpey cat, ensured Wimpey Homes became a household name in house building.
By 2002, there were four UK brands: Wimpey Homes, McLean Homes, McAlpine Homes and Laing Homes. Under the leadership of the current chief executive, Peter Redfern, (who was then head of UK housing), the operations were merged, and ‘Wimpey Homes’, ‘McLean Homes’ and ‘McAlpine Homes’ were replaced with ‘George Wimpey’ under a new three-dimensional purple and orange squares corporate identity. Laing Homes was retained due to its more up-market status and its greater brand recognition. This brand disappeared in June 2008 as a result of the merger with Taylor Woodrow
Taylor Woodrow
Taylor Woodrow was one of the largest British housebuilding and general construction companies. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but merged with rival George Wimpey to create Taylor Wimpey on 3 July 2007.-Early years:Frank Taylor was...
.
In 2006, George Wimpey launched an affordable 'G2' brand, focussing on one and two bedroom luxury apartments. Its prime target markets were value-conscious first time buyers and key workers.
Sponsorship
George Wimpey was the Main Sponsor of St. Johnstone F.C. until 2008/09 when George Wimpey and Taylor Woodrow merged.Wimpey Construction
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
and the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
, engaging in a wide range of building and civil engineering activities.
Major non-housing construction projects have included the White City Stadium
White City Stadium
White City Stadium was built in White City, London, for the 1908 Summer Olympics, often seen as the precursor to the modern seater stadium and noted for hosting the finish of the first modern distance marathon. It also hosted speedway and a match at the 1966 World Cup, before the stadium was...
completed in 1908, the Team Valley Trading Estate
Team Valley
Team Valley is a traditionally heavily industrial area of Gateshead in Tyne and Wear, England. More recently it has become home to the 'Retail World' retail park, which makes up just a small percentage of the entirety of the Team Valley Trading Estate...
completed in 1938, Heathrow Airport completed in 1946, the Clunie Dam
Loch Tummel
Loch Tummel is a long, narrow loch, 7 kilometres north west of Pitlochry in Perth and Kinross, Scotland .-Geography:The loch is approximately 11 kilometres long from east to west, and is just under 1 kilometre wide...
in Scotland
Scotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
completed in 1950, the Furnas Dam in Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
completed in 1963, the Centre Point
Centre Point
Centre Point is a substantial concrete and glass office building in central London, England, occupying 101-103 New Oxford Street, WC1, close to St Giles Circus and almost directly above Tottenham Court Road tube station. The site was once occupied by a gallows...
building in London
London
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...
completed in 1966, the Llyn Brianne Dam
Llyn Brianne
Llyn Brianne is a man-made lake or reservoir in the headwaters of the River Tywi in central Wales.-Construction:The reservoir was constructed by Wimpey Construction in the late 1960s and early 1970s in order to regulate the flow in the River Tywi to support large potable water abstraction at...
completed in 1972, the HSBC Tower in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
completed in 1985 and the Channel Tunnel
Channel Tunnel
The Channel Tunnel is a undersea rail tunnel linking Folkestone, Kent in the United Kingdom with Coquelles, Pas-de-Calais near Calais in northern France beneath the English Channel at the Strait of Dover. At its lowest point, it is deep...
completed in 1994.
Wimpey Minerals
Wimpey Minerals was one of the largest aggregate, coated stone and UK construction material producers, with significant operations in the UK and United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, and smaller operations in the Republic of Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
, the Czech Republic
Czech Republic
The Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest....
, the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
, and the Far East
Far East
The Far East is an English term mostly describing East Asia and Southeast Asia, with South Asia sometimes also included for economic and cultural reasons.The term came into use in European geopolitical discourse in the 19th century,...
.
North American operations
George Wimpey also had operations in the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
trading under Morrison Homes, which was acquired in 1984 when it was based in San Francisco, Northern California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
. George Wimpey later added to its US operations with the acquisition of Richardson Homes of Denver, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
in 2001. Richardson has since been integrated under the Morrison brand.
Morrison Homes was initially founded in Seattle in 1905 by C.G. Morrison and moved to northern California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
in 1946. Operations were extended to cover Phoenix
Phoenix, Arizona
Phoenix is the capital, and largest city, of the U.S. state of Arizona, as well as the sixth most populated city in the United States. Phoenix is home to 1,445,632 people according to the official 2010 U.S. Census Bureau data...
, Central Valley, Sacramento
Sacramento
Sacramento is the capital of the state of California, in the United States of America.Sacramento may also refer to:- United States :*Sacramento County, California*Sacramento, Kentucky*Sacramento – San Joaquin River Delta...
, Denver, Fort Myers, Jacksonville, Orlando
Orlando, Florida
Orlando is a city in the central region of the U.S. state of Florida. It is the county seat of Orange County, and the center of the Greater Orlando metropolitan area. According to the 2010 US Census, the city had a population of 238,300, making Orlando the 79th largest city in the United States...
, Sarasota, Tampa
Tâmpa
Tâmpa may refer to several villages in Romania:* Tâmpa, a village in Băcia Commune, Hunedoara County* Tâmpa, a village in Miercurea Nirajului, Mureş County* Tâmpa, a mountain in Braşov city...
, Reno
Reno
Reno is the fourth most populous city in Nevada, US.Reno may also refer to:-Places:Italy*The Reno River, in Northern ItalyCanada*Reno No...
, Austin
Austin, Texas
Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
, Dallas Fort Worth and Houston.