Published by Global Banking & Finance Review®
Posted on January 10, 2025
1 min readLast updated: January 27, 2026
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Steve Morgan's Bridgemere Group now holds a nearly 5% stake in Barratt Redrow, making it the third-largest shareholder. This move comes amid concerns over interest rates affecting UK homebuilders.
(Reuters) - British investor Steve Morgan's Bridgemere Group disclosed a nearly 5% stake in Barratt Redrow, a filing showed on Friday, making it the third-biggest shareholder in Britain's largest homebuilder.
Morgan, the founder and former chairman of Redrow, through Bridgemere group had held a substantial stake in Redrow until it was taken over by Barratt last year for 2.52 billion pounds ($3.09 billion).
British homebuilders, which saw muted demand for most of 2024, now face worries that interest rates may not decrease as much as previously anticipated, pressuring the sector's shares.
Barratt Redrow shares, which lost more than 20% of their value last year, are down about 9% so far this year.
Its largest investor is Fidelity Management & Research Company with a 6.36% stake and Blackrock's UK investment arm is placed second with a nearly 6% stake, according to LSEG data.
($1 = 0.8157 pounds)
(Reporting by Yamini Kalia and Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva)
Bridgemere Group disclosed a nearly 5% stake in Barratt Redrow.
The largest investor in Barratt Redrow is Fidelity Management & Research Company with a 6.36% stake.
Barratt Redrow shares lost more than 20% of their value last year and are down about 9% so far this year.
UK homebuilders are facing muted demand and concerns that interest rates may not decrease as much as previously anticipated.
Barratt took over Redrow last year for 2.52 billion pounds, which is approximately $3.09 billion.
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