Barratt Developments plc is one of the largest residential property development companies in the United Kingdom operating across England, Wales and Scotland. It was founded in 1958 as Greensitt Bros., but control was later assumed by Sir Lawrie Barratt. It was originally based in Newcastle upon Tyne but is now located at David Wilson’s former offices in Coalville, Leicestershire.
Barratt Developments PLC owns three consumer brands: Barratt Homes, David Wilson Homes and Barratt London
In 1991 the company was badly hit by the recession and recalled Lawrie Barratt from retirement: he retired for good in 1997 and remained life president until his death in December 2012. In 2004 the company sold Barratt American, its US operation, established in the 1980s in California. Following the house price boom in the later 1990s and early 2000s, which saw a number of Barratt’s largest rivals, such as Persimmon, George Wimpey and Taylor Woodrow all acquire rivals to increase in size, Barratt broke its tradition of 30 years and acquired Wilson Bowden, best known for its David Wilson Homes brand, for £2.7 billion in 2007. This brought the David Wilson, Ward Homes and Wilson Bowden Developments brands to the group.
In 2008 the company secured a restructuring of its banking covenant package. The non-profit Barratt Residential Asset Management division was established in 2012 to provide property management services on Barratt London developments.
David Thomas was appointed chief executive in succession to Mark Clare in 2015. The company purchased Oregon Timber Frame for an undisclosed sum in 2019.
In 2020, Barratt Developments set science-based carbon reduction targets as well as making a commitment to build zero-carbon homes from 2030 and become a net-zero business by 2040. Examples of sustainable developments include the Green House at the BRE Innovation Park, Hanham Hall near Bristol, Derwenthorpe, near York and Kingsbrook, near Aylesbury.
As of 2020, Barratt Developments had achieved a 5-star rating in the Home Builders Federation new home Customer Satisfaction Survey for 11 consecutive years. In the 2020 NHBC Pride in the Job awards for site managers, Barratt site managers won 92 Quality Awards, seven of the eleven available Regional Awards and Midlands-based site manager Kirk Raine won the Supreme Award in the large builder category.