Edinburgh-based firm targeting 6,000 homes a year

Miller Homes has completed its acquisition of St Modwen after a regulator gave the deal the green light.

The approval from the Competition and Markets Authority means Edinburgh-based Miller Homes has acquired 19 live sites, totalling 3,500 plots for new homes, along with five strategic sites. The value of the deal is thought to be worth 拢215m.

This gives it a presence in the South-west of England for the first time. Miller will continue to operate the brand under the St Modwen name.

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Miller had an income of 拢1bn in 2023

The acquisition is part of Miller鈥檚 medium-term plan to build 6,000 homes a year.

Miller turned over 拢1bn in the year to December 2023 and completed 3,585 homes, generating pre-tax profit of 拢65.7m

St Modwen, acquired by Blackstone in 2021, posted turnover of 拢371m in the year to December 2022, making a pre-tax profit of 拢5.36m after selling 1,313 homes.

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