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 £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 £1bn in 2023

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

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

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

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