Kenmore Property Group sells Kenmore Homes Group to Highcross

Kenmore Property Group announces the sale of Kenmore Homes to Highcross

Kenmore Property Group today announces the sale of Kenmore Homes Group to Highcross, the Newbury based private fund manager for approximately £20 million.

Kenmore Homes was established in Edinburgh in 2001 by co-founders John Kennedy, Chairman of Kenmore Property Group and Bill Thomson.  With offices in Edinburgh, Winchester, Glasgow, Birmingham and Chelmsford, Kenmore Homes has built a residential development business through project and corporate joint ventures together with direct development and has a projected development pipeline of around 3,000 units in over 50 projects throughout Scotland and England.

Peter Gubb, Chief Executive of Highcross said, "The acquisition of Kenmore Homes gives Highcross an excellent platform into the residential sector and the opportunity to both grow the existing business and to explore new areas of operation and benefit from clear synergies with our existing investments."

Bill Thomson, co-founder with John Kennedy of Kenmore Homes, will step down as chairman but will continue with the company as a consultant. Charles Wilkinson and Drew Reid will continue as joint managing directors.