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Redrow's new Scotland boss says growth plans are in motion

Redrow’s new manager of the firm’s Scottish division Sandy McBride has said that the business has begun the process of planning for growth.

He said the wheels were now in motion for new developments with lenders and industry commentators having highlighted modest price increases and growing consumer demand for new homes in the latter part of 2009.

Mr McBride said a new development will launch in Dalkeith, Midlothian, at the end of January.

Redrow launched a £150 million rights issue in November and a significant portion of the funds are earmarked to purchase new land for future development across the UK.

Mr McBride is formerly divisional chairman with Gladedale Homes and previously commercial director with Wimpey in East Scotland for over seven years.

He said: “Changes that have taken place at the top in Redrow, with the return of founder Steve Morgan as chairman and his stated aim of returning the business to its core values and more family orientated homes, were very much a deciding factor for me to take on the MD’s role in Scotland.

“Like many of our competitors the housing downturn forced us to consolidate and downsize our operation.

“However, we have good land, good locations, good sales and a good solid platform for growth thanks to the recent rights issue.”

He added: “There is definitely interest from would-be purchasers and there is certainly an under-supply in homes for sale which is helping to stabilise prices and provide a modest uplift as reflected in national benchmarks.

“However, we still need to overcome a general lack of consumer confidence and there remains the issue of mortgage availability – or lack of – which lenders need to address.”