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Following the Barratt-Redrow merger last year, Matthew Pratt will step down as Redrow chief executive on 30 June.

Recently merged Barratt Redrow has increased revenues and profits, with the housebuilder now claiming it is on track to deliver 22,000 homes per year.

The companies have signed the new Ashton Park agreement which includes plans to build thousands of residential homes in Trowbridge.

Barratt Redrow announced a £90 million in a push to save costs as the businesses integrate.

The Competition and Markets Authority, responsible for reducing anti-competitive activities in business, has cleared the £2.5 billion merger.

MADE Partnership aims to focus on the master development of large sites, from 1,000 to more than 10,000 homes.

A “challenging year” for housebuilders sees revenue and profits fall for Barratt developments, in its latest financial results.

Barratt home completions are down for the year ended 30 June 2024 with 14,004 compared with the previous year.

Under the agreement terms, BDW Trading, Barratt Developments’ principal operating subsidiary, acquires half the land at Durieshill in exchange for funding the site’s infrastructure development over the next five years.

It had to make provisions for £179 million to counter the cost of remediation works on legacy properties.