 | |
| Company type | Private company |
|---|---|
| Industry | Housebuilding |
| Founded | 1934 |
| Headquarters | Edinburgh, Scotland, UK |
Area served | United Kingdom |
| Parent | Apollo Global Management (2022-present) |
| Website | millerhomes |
Miller Homes Limited is a housebuilder based in the United Kingdom.
The company was established by Sir James Miller in 1934. [1] Expansion led to James' brothers, John and Lawrence, joining him in the business. [2] Miller soon became Edinburgh's leading housebuilder, building close to five hundred houses per year during the 1930s. [3]
The outbreak of the Second World War led to the company's abrupt cessation of private housebuilding and the start of Miller's construction business, which continued to grow following the end of the conflict. The peacetime return to house construction was largely driven by local authority schemes; it was not until the end of building controls in the beginning of the 1950s that Miller Homes resumed private housing – often using its extensive pre-war land holdings. [3]
Housing operations were later extended to the South East England and Yorkshire. However, the group's emphasis was more on its construction activities at this time, thus its housing sales rarely exceeded five hundred to six hundred per year [ when? ]. [3]
During May 1996, the company's housing subsidiary in the South of England was sold to Kier Group in exchange for £16 million. [4] By this point, Miller Homes was the largest private construction firm in Scotland. [5]
During the late 1990s, sales exceeded 1,000 units for the first time. The company's senior management declared their intention for Miller Homes to move into the top ten housebuilders in Britain. [6] During 1999, the company acquired rival housebuilder Cussins Homes while both Birch Homes and the Yorkshire region of Crest Nicholson were purchased during the following year. [7] During April 1999, Miller had also launched a bid to acquire rival house builder CALA Homes to create Britain's largest privately-owned house builder. [8] [9]
In September 2005, the company acquired Fairclough Homes (then building 1,500 houses per year) in exchange for £246 million, which took Miller Homes to its target of 4,000 houses per year and put it into the top ten largest house builders. [3] [10] Shortly thereafter, Miller Homes underwent a restructure of its nationwide operations. [11] [12]
During the Great Recession, volumes fell substantially due to the poor economic conditions. In September 2010, Miller Homes recorded a pre-tax loss of £27 million, some of which was attributed to the costly debts it was carrying. [13] [14] In April 2011, shortly after rival firm McInerney Holdings' entry into administration, Miller Homes secured a management contract valued at £100 million relating to ten sites previously owned by the failed company. [15] Later that same year, the firm launched a partnership with the City of Edinburgh Council to speedily deliver affordable housing. [16]
In July 2014, the company sold its construction division to Galliford Try. [17] [18] That same year, Miller Homes abandoned a planned floatation on the London Stock Exchange which it had intended to raise about £140m in exchange for a 40 per cent stake in the company. [19] [20] Despite this, the firm's management team continued to express interest in a potential floatation in the following years. [21] [22] During September 2015, Miller Homes announced revenues of £229.7 million over last six month trading period, a 32 per cent year-on-year increase. [23] [24]
In August 2017, Miller Homes was purchased by the European private investment firm Bridgepoint Group via a deal valued at £655 million. [25] During the previous year, it had sold 2,380 homes and reported an operating profit of £103 million, a 31 per cent year-on-year increase. [26] In May 2021, as part of the firm's wider expansion plans to deliver 5,000 homes per year, Miller Homes purchased Wallace Land Investments to add 41 sites and 17,500 plots to its strategic land bank. [27]
During April 2022, the company was acquired by the American asset management firm Apollo Global Management in exchange for roughly £1.3 billion. [28] [29] One year later, it was announced that a £160 million profit had been recorded, a year-on-year rise of 10 per cent. [30]
Barratt Redrow plc is one of the largest residential property development companies in the United Kingdom operating across England, Wales and Scotland. It is a constituent of the FTSE 100 Index. It was originally based in Newcastle upon Tyne, England, but is presently located at David Wilson's former offices in Coalville, England.
Bellway p l c is a residential property developer and housebuilder based in Newcastle upon Tyne, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Persimmon plc is a British housebuilding company, headquartered in York, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Crest Nicholson is a British housebuilding company based in Weybridge, Surrey. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The Berkeley Group Holdings plc is a British property developer and house-builder based in Cobham, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Westbury plc was a British housebuilding company based in Cheltenham, Gloucestershire. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index but was acquired by Persimmon plc in 2005.
Wilson Bowden plc was a British housebuilding and general construction company headquartered in Coalville in central England.
Redrow plc was one of the largest British housebuilders with a network of 12 operational divisions across the UK. It was based in Flintshire, Wales and employed 2,300 people. In October 2024, its merger with Barratt Developments was finalised and it became Barratt Redrow.
McCarthy Stone is a developer and manager of retirement communities in the United Kingdom.
Morgan Sindall Group plc is a leading British Construction & Regeneration group, headquartered in London employing around 6,700 employees and operating in the public, regulated and private sectors. It reports through six divisions of Construction & Infrastructure, Fit Out, Property Services, Partnership Housing, Urban Regeneration and Investments. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
J.W.Muir Group Public Limited Company, trading as Muir Group and based in Inverkeithing, Fife, is one of the largest privately owned property development company specialising in timber-framed construction of houses and apartments companies in Scotland.
Galliford Try plc is a British construction company based in Uxbridge, England. It was created through a merger in 2000 of two businesses: Try Group, founded in 1908 in London, and Galliford, founded in 1916.
McLean Homes was a major British housebuilding business. It was bought by a major construction company, Tarmac, in 1972 and the brand ceased to be used in 1996.
United House Developments is a property development and housebuilding company based in Southampton Street, London. It is active in the construction of social housing, urban regeneration, refurbishment and Public Private Partnerships (PPP).
M J Gleeson Group plc is a housebuilding company in the United Kingdom. It is listed on the London Stock Exchange and comprises a pair of distinct businesses: Gleeson Homes and Gleeson Strategic Land.
Henry Boot plc is a British property development business based in Sheffield, England. It was floated on the London Stock Exchange in 1919, becoming the first quoted housebuilder. Between the wars, Henry Boot built more houses than any other company. The company remains a significant construction and property management company operating in the UK.
Bloor Homes Limited is an English housebuilder based in Measham, Leicestershire. It is Britain’s largest privately owned housebuilder.
CALA Group (Holdings) Limited is a British housebuilding company with headquarters in Edinburgh, Scotland, and in Staines-upon-Thames, England.
Keepmoat Homes Ltd is a housebuilding company in the United Kingdom that provides private homes for sale. Its headquarters are in Doncaster.
Telford Homes is a housebuilding company that specialises in developments in non-prime areas of London.
| Companies |
| ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Industry Bodies | |||||||||||||
| Law and Regulation |
| ||||||||||||
| Other | |||||||||||||
