Barratt Redrow plc is a British residential property development 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. Barratt was originally founded in 1958 by Lewis Greensitt and Sir Lawrie Barratt as Greensitt Bros. to build houses. During 1968, the company, which had by then been renamed Greensitt & Barratt, was floated on the London Stock Exchange. Following Lewis Greensitt's departure, the company was rebranded as Barratt Developments. It grew rapidly during the 1970s, largely due to a spree of acquisitions. By June 1983, Barratt was the largest housebuilder in the country, selling a record 16,500 houses over the prior 12 months. Sales more than halved during the mid-1980s, a trend that was partly attributed to public criticism of Barratt's practices in two successive ITV World in Action programmes. In response, Barratt was heavily restructured, abandoned timber-framed construction in favour of a new product range, and de-emphasised its starter homes activities. More information...
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