Homes England investment chief to quit amid new career plans
David Bridges is set to return to Kier, where he previously worked as chief executive until its sale to private equity group Terra Firma in 2021.
In 2020 David Bridges worked as the chief executive of Kier, a leading provider of infrastructure services, construction, and property developments, until it was sold for £110m to Terra Firma. This decision ultimately resulted in Bridges moving to Homes England, where he has worked as the interim chief investment officer since August 2023.
However, in a shocking turn of events, Bridges recently announced he will be returning to Kier in March as a managing director.
News of the announcement has come just a week after a House of Lords committee criticised Homes England’s ‘undirected and nonstrategic’ investment in housebuilders specialising in modern methods of construction (MMC).
One of the reasons Homes England, the governments leading housing and regeneration agency, has been labelled as ‘undirected’ is because it is set to lose around £68m from its investment in Ilke Homes, which collapsed in summer 2023; lost £3m of £27m invested into House by Urban Splash, which collapsed in 2022; and is also owed over £9m by a subsidiary of Stewart Milne Group that fell apart this month.
Commenting on the news, Leigh Thomas, Kier Property groups managing director said: ‘I am delighted to welcome David back during this exciting time in Kier Property’s growth.
‘David brings a wealth of experience in residential and commercial property and will play an integral role in leading our talented residential regeneration team and help drive our growth strategies through our existing joint ventures in the public and private sectors.
‘In David’s new role, he will sit on our property board and take overall responsibility for the delivery of all our residential projects. I am looking forward to seeing the impact David will once again have at Kier.’
Before working for Kier and Homes England, Bridges has previously held roles at other leading property organisations including Taylor Wimpey, Keepmoat, McCarthy Stone, Linden Homes and Sergo.
In response to getting his new role, David Bridges said: ‘It’s fantastic to be rejoining Kier. I know first-hand what a great company this is, with a people and culture which drives to make a difference. Coupled with my passion to help regenerate towns and cities, I knew this would be a brilliant opportunity.
‘Given the strategic focus of the business, I am confident that learnings from my time at Homes England will really help to deliver on the ambitious growth plans of Kier Property in the residential and regeneration sectors. I look forward to getting started in March.’
Images: Mike Hindle and Ernie Journeys
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