Crosby Homes
IndustryHousebuilding
Founded1920s
HeadquartersSolihull, United Kingdom
ProductsResidential dwellings and apartments
ParentLend Lease Corporation

Crosby Homes was a major British residential housebuilding business. It was acquired by Lendlease in 2005.

History

Crosby Homes was established in the mid-1920s by James Crosby to build houses in north Cheshire. During the War it turned to civil engineering and contracting but returned to housebuilding in the late 1950s, when it specialised in building executive housing.[1] In 1986, the Crosby family sold out to a management team and in 1989 the company was floated on the London Stock Exchange; at that time the company was predominantly building in north Cheshire and south Lancashire.[1] The housing recession led to a cut in the dividend in 1990 and in 1991 Crosby was acquired by Berkeley Group Holdings. The business was substantially expanded, concentrating on city centre development from Birmingham north to Newcastle.[2] As part of Berkeley's restructuring Crosby was sold on deferred terms to its management in 2003; Lendlease then bought it in 2005 for circa £240 million.[3] Shortly after the takeover the company was renamed Crosby Lend Lease.[4]

References

  1. 1 2 Company Prospectus (1987)
  2. ↑ Wellings, Fred: Dictionary of British Housebuilders (2006) Troubador. ISBN 978-0-9552965-0-5.
  3. ↑ Crosby Homes chiefs in line for £25m from sale to Lend Lease The Times, 24 June 2005
  4. ↑ "Lend Lease confirms Bovis name drop". Construction News. 17 February 2011. Retrieved 28 October 2022.
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