Redrow has announced that it will be expanding its regional presence by opening a new division in the Thames Valley. The strategic decision to expand into this area comes as Redrow continues to experience growth in outer London and the Home Counties, as well as strong strategic land pull-through in the Thames Valley region. The new division is expected to make a contribution to the Group’s turnover in the financial year ending June 2020.
Based in Oxfordshire and covering the surrounding counties, the Thames Valley division will be headed up by recently appointed Managing Director, Rameen Firoozan, former Regional Managing Director at Berkelely Group’s Oxford and Chiltern division.
The Thames Valley has become one the fastest-growing economies in the country with a forecast GVA growth of 2.3% until 2020 – ahead of London (2.2%) and the South East (2.0%). As a result, demand for new homes is high, with house prices in the heart of Oxford, rising almost 10% since 2015.
John Tutte, Group Chief Executive, Redrow, said:
“Outer London, and particularly the areas just outside of the M25, are a growth area for Redrow.
“Redrow already has a successful presence in Reading, Bracknell, Oxford and High Wycombe, therefore it makes sense to open a permanent regional office within the area. Rameen is a very experienced Managing Director, with in-depth knowledge of the region, and we look forward to working with him to create the new division.
Rameen Firoozan, Managing Director of Redrow Thames Valley, said:
“I am very excited to be joining Redrow and I have strong ambitions for the performance of this region due to the strength of the housing market here and subsequent investment in the area. The amount of land availability, coupled with the connectivity of the region, means there is an opportunity for us to offer customers more choice through our award-winning Heritage Collection.”
Rameen Firoozan will be responsible for appointing a new Thames Valley team in due course, as well as finding a location for the new offices. He will report into Matthew Pratt, Regional Chief Executive for Redrow’s southern regions. The new division is set to formally launch in summer 2019.