Carden Group is privately owned and managed by Steve Morgan, founder and former chairman of Redrow, Will Heath, former Redrow group development director, and Harry Aubrey-Fletcher, landowner and former director at Taylor Wimpey. The trio have worked together for more than 15 years through various business associations and collaborations.
Their new company is run from offices in Cheshire and Buckinghamshire.
The mission is to get planning permission for farmers and other landowners to develop housing.
Carden has already acquired its first site – a 220-acre parcel of agricultural land near Exeter. Planning has now been submitted for Treasbeare Garden Village, with the plans to deliver 1,000 new homes, a neighbourhood centre, a primary school, allotments, sports pitches and a pavilion.
The company says that it is also close to acquiring two further sites, which between them would deliver 1,100 homes.
Chief executive Will Heath said: “Developing land in the UK has become increasingly challenging, with significant levels of red-tape, protracted lead-in times and substantial levels of capital required to secure planning permission. With our industry-leading experience, flexible business model and substantial cash reserves we can take a flexible approach that reflects landowners’ circumstances, making decisions quickly without the need for external funding.
“Our focus is on buying freehold land with future development potential for larger residential-led projects requiring substantial capital investment and expertise, whether it be draft or allocated sites, or land with longer term prospects. The goal is to deliver high quality placemaking and thriving new communities. Once planning permission is achieved, the land will then be sold to local, regional or national housebuilders who share the same values.”
Will Heath is also chief executive of Bridgemere Group and chairman of Castle Green Homes, a privately owned north-west based housebuilder currently building 300 homes per year. Steve Morgan is involved in these two business too.