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{{Short description|British home construction company}}{{Use dmy dates|date=October 2015}}

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>FTSE 100 Component}}High Wycombe, England, UK}}{{wd-chairperson}}|{{wd-ceo}}}}| industry = Housebuilding| products = Pound sterling>£3,514.5 million (2023)HTTPS://WWW.TAYLORWIMPEY.CO.UK/-/TWDXMEDIA/FILES/HEAD-OFFICE/CORPORATE/REPORTS-AND-PRESENTATIONS/2024/TW-FY2023-FY-STATEMENT-FINAL.PDF>TITLE=RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023ACCESS-DATE=28 FEBRUARY 2024, Pound sterling>£467.8 million (2023)Pound sterling>£349.0 million (2023)www.taylorwimpey.co.uk}}| num_employees = | parent = | footnotes =}}Taylor Wimpey plc (formerly Taylor Woodrow plc) is one of the largest home construction companies in the United Kingdom.The company was created from the merger of rivals Taylor Woodrow and George Wimpey on 3 July 2007.NEWS,news.bbc.co.uk/1/hi/business/6494387.stm, BBC NEWS – Business – Wimpey and Woodrow agree to merge, bbc.co.uk, 26 March 2007, 21 March 2015, It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. Its headquarters are based in High Wycombe, England.{{TOC limit|limit=3}}

History

Taylor Woodrow

Taylor Woodrow was founded in 1921 by 16-year-old Frank Taylor as Taylor, Woodrow Limited. Though Taylor had borrowed money to build two houses in Blackpool, as he was too young to form his own company, his uncle Jack Woodrow lent his name to the business.WEB,www.taylorwimpeyplc.com/AboutUs/OurHistory.htm, Taylor Wimpey, Our History, 27 March 2022,www.taylorwimpeyplc.com/AboutUs/OurHistory.htm," title="web.archive.org/web/20110716194005www.taylorwimpeyplc.com/AboutUs/OurHistory.htm,">web.archive.org/web/20110716194005www.taylorwimpeyplc.com/AboutUs/OurHistory.htm, 16 July 2011, dead, In the 1930s, Taylor Woodrow diversified into building temporary hospitals, and thereby moved into general construction. Taylor Woodrow Homes constituted a relatively small part of the business, and with housing sales declining in the following 50 years, at the beginning of the 1980s, Taylor Woodrow Homes was still only building around 500 to 600 houses a year.Wellings, Fred: Dictionary of British Housebuilders (2006) Troubador. {{ISBN|978-0-9552965-0-5}}In January 2001, Taylor Woodrow acquired Bryant Group, a business founded in Birmingham in 1885 by Chris Bryant, for £556 million,NEWS,news.bbc.co.uk/1/hi/business/1130323.stm, BBC News – BUSINESS – Taylor Woodrow buys up Bryant, bbc.co.uk, 22 January 2001, 21 March 2015, and in October 2003 Taylor Woodrow acquired Wilson Connolly in a cash and shares deal worth £499 million.WEB,www.independent.co.uk/news/business/news/taylor-woodrow-to-buy-wilson-connolly-85185.html,ghostarchive.org/archive/20220526/https://www.independent.co.uk/news/business/news/taylor-woodrow-to-buy-wilson-connolly-85185.html, 26 May 2022, subscription, live, Taylor Woodrow to buy Wilson Connolly, Rachel, Stevenson, The Independent, 1 September 2003, 24 October 2017,

George Wimpey

File:Diglis Basin - geograph.org.uk - 1457888.jpg|thumb|240px|A Taylor Wimpey development at Diglis Basin in Worcester ]]George Wimpey was founded by George Wimpey and Walter Tomes as a stone-working partnership in 1880 in Hammersmith. Tomes would later sell his portion of the business in 1893.BOOK, Valerie, White, Wimpey: The first hundred years, George Wimpey, 1980, 2, George Wimpey died in 1913 at the age of 58, with his family putting the business up for sale in 1919. Godfrey Way Mitchell bought the firm and decided to retain the Wimpey name. George Wimpey completed its first residential development, the Greenford Park Estate, in 1928.In the 1970s, George Wimpey became the United Kingdom’s largest private housebuilder, selling 106,440 homes in the decade, and in the 1980s, George Wimpey began to reinforce Wimpey Homes as a brand, focusing on compact housing.WEB,staginggeorgewimpey.hemscott.com/History, History, George Wimpey, 26 March 2016, In March 1996, George Wimpey acquired McLean Homes, a business founded in 1934 by John McLean, from Tarmac.British home builders to swap some assets In August 2001, the business acquired McAlpine Homes from Alfred McAlpine in a £463 million deal,NEWS,news.bbc.co.uk/1/hi/business/1489982.stm, BBC News – BUSINESS – Wimpey buys McAlpine building unit, bbc.co.uk, 14 August 2001, 21 March 2015, and in October 2002, George Wimpey went on to acquire Laing Homes, a premium housebuilder, from John Laing for £295 million.WEB,news.independent.co.uk/business/news/article140299.ece,news.independent.co.uk/business/news/article140299.ece," title="archive.today/20140627175558news.independent.co.uk/business/news/article140299.ece,">archive.today/20140627175558news.independent.co.uk/business/news/article140299.ece, dead, 27 June 2014, Wimpey takes over again as UK’s biggest housebuilder with £300m Laing deal, The Independent, 21 March 2015,

Post-merger

In September 2008, Vinci bought the operations of Taylor Woodrow ConstructionWEB,www.nce.co.uk/energy/2008/09/acquisition_vinci_buys_taylor_woodrow.html, Acquisition: Vinci buys Taylor Woodrow, nce.co.uk, 21 March 2015, and in April 2009, the remaining activities of Taylor Woodrow Construction in Ghana were sold to management.Investor Group acquires Taylor Woodrow of Ghana Ltd from Taylor Wimpey PLC through a leveraged buyout Reuters, 21 April 2009 In March 2011, a property investment group backed by private equity firms acquired Taylor Wimpey’s American and Canadian housebuilding businesses.Taylor Wimpey sells American business for £595m The Telegraph, 31 March 2011

COVID-19 lockdown

On 23 March 2020, Taylor Wimpey closed all of its UK sites and sales centres following lockdown measures in response to the COVID-19 pandemic in the United Kingdom.WEB, Taylor Wimpey eyes 80% output amid plans to reopen sites,www.constructionnews.co.uk/buildings/taylor-wimpey-eyes-80-output-amid-plans-to-reopen-sites-23-04-2020/, Bingley, Lem, 2020-04-23, Construction News, en, 2020-05-13, Six weeks after shutting down, the firm claimed to be “the first major housebuilder to unveil a timetable for restarting jobs”, and said it would begin remobilisation in England and Wales on 4 May 2020.WEB, Taylor Wimpey to start reopening sites next month,www.building.co.uk/news/taylor-wimpey-to-start-reopening-sites-next-month/5105674.article, Rogers2020-04-23T07:16:00+01:00, Dave, Building, en, 2020-05-13, Taylor Wimpey said that although all its show homes had been closed during the lockdown, sales had continued, growing by 200 homes in comparison to the previous year’s figures. The company also ran a manufacturing project during the pandemic to supply “GP surgeries and care homes with reusable 3D printed face visors”.On 2 March 2021, Taylor Wimpey announced it had set aside £125m to pay for cladding and fire safety repairs.NEWS, Corker, Sarah, 2 March 2021, Taylor Wimpey sets aside £125m for cladding and fire safety repairs, BBC News,www.bbc.co.uk/news/business-56250730, 20 March 2021, NEWS, Hammond, George, 2 March 2021, Taylor Wimpey sets aside £125m to improve building safety, Financial Times,www.ft.com/content/dbd2493d-ad3b-445d-99bb-081198139875, 20 March 2021, In April 2023, Taylor Wimpey announced it had consulted staff on a £19m cost-saving plan that resulted in 450 job cuts and cost £8m to implement.NEWS, Morby, Aaron, Taylor Wimpey axes 450 staff in cost-cutting push,www.constructionenquirer.com/2023/04/27/taylor-wimpey-job-cuts-loom-as-19m-cost-cut-plan-advances/, 27 April 2023, Construction Enquirer, 27 April 2023,

Operations

Taylor Wimpey’s corporate head office is located at GateHouse in High Wycombe. There are 24 regional offices in the United Kingdom.WEB,plc.taylorwimpey.co.uk/GlobalContactUs/Taylor+Wimpey+Contacts/Office+Addresses/, Office Addresses, 2011, Taylor Wimpey plc, 6 October 2012, Taylor Wimpey was headed by Pete Redfern, CEO of the company from July 2007.WEB,www.telegraph.co.uk/finance/financetopics/profiles/10151432/Monday-Interview-Pete-Redfern-has-rebuilt-Taylor-Wimpey-he-doesnt-want-another-bubble.html, Monday Interview: Pete Redfern has rebuilt Taylor Wimpey, he doesn’t want another bubble, The Telegraph, 30 June 2013, 6 October 2017, In December 2021, he announced plans to step down once a successor had been appointed.NEWS, Taylor Wimpey chief decides its time to quit,www.theconstructionindex.co.uk/news/view/taylor-wimpey-chief-decides-its-time-to-quit, 8 December 2021, The Construction Index, 8 December 2021, In February 2022, Taylor Wimpey announced that group operations director Jennie Daly would take over as CEO in April 2022;NEWS, Morby, Aaron, Taylor Wimpey names new chief executive,www.constructionenquirer.com/2022/02/07/taylor-wimpey-names-new-chief-executive/, 7 February 2022, Construction Enquirer, 7 February 2020, she replaced Redfern at the company’s AGM on 26 April 2022.NEWS, New Taylor Wimpey chief takes over,www.theconstructionindex.co.uk/news/view/new-taylor-wimpey-chief-takes-over, 26 April 2022, The Construction Index, 26 April 2022, Irene Dorner, chair of Taylor Wimpey since February 2020, is to step down after the company’s April 2023 AGM, and will be replaced by former Land Securities executive Robert Noel.NEWS, Noel to take Taylor Wimpey chair,www.theconstructionindex.co.uk/news/view/noel-to-take-taylor-wimpey-chair, 16 December 2022, The Construction Index, 16 December 2022,

Sponsorships and awards

Taylor Wimpey was the main sponsor of St Johnstone F.C., for the football seasons of 2009 to 2011.WEB,www.footballshirtculture.com/forum/fsc-forum/football-shirt-discussion/new-st.-johnstone-surridge-home-and-away.html, Football shirt Forum :: Topics in FSC Forum (1/1), footballshirtculture.com, 21 March 2015, dead,www.footballshirtculture.com/forum/fsc-forum/football-shirt-discussion/new-st.-johnstone-surridge-home-and-away.html," title="web.archive.org/web/20150402145245www.footballshirtculture.com/forum/fsc-forum/football-shirt-discussion/new-st.-johnstone-surridge-home-and-away.html,">web.archive.org/web/20150402145245www.footballshirtculture.com/forum/fsc-forum/football-shirt-discussion/new-st.-johnstone-surridge-home-and-away.html, 2 April 2015, dmy-all, In 2016, Taylor Wimpey held its Project 2020 Open Design Competition in an attempt to find a design for a “home of the future”. The project was launched in partnership with RIBA.WEB,architectsjournal.co.uk/revealed-finalists-schemes-in-taylor-wimpey-house-of-the-future-contest/10015031.article/, Finalist schemes in Taylor Wimpy house of the future contest, 23 November 2016, Architects’ Journal, 23 November 2016,

Controversies

Ground rent

In 2016, Taylor Wimpey was accused of selling houses and apartments as leasehold that would traditionally have been freehold, with clauses that allowed the ground rent to rise dramatically in later years, making the houses unsaleable.WEB, 2016-11-05, The ground rent scandal that is engulfing new home buyers,www.theguardian.com/money/2016/nov/05/ground-rent-scandal-engulfing-new-home-buyers-leasehold, 2021-03-20, The Guardian, en, Taylor Wimpey also sold the freehold to other companies, which could then go on to charge exorbitant amounts (up to £40,000) for the freehold.WEB, 2016-10-29, The new-builds catching house buyers in a leasehold property trap,www.theguardian.com/money/2016/oct/29/new-builds-house-buyers-leasehold-property-trap, 2021-03-20, The Guardian, en, On 19 March 2021, the Competition and Markets Authority ordered Taylor Wimpey to remove terms that double the ground rent of leasehold properties every 10 or 15 years.NEWS, 19 March 2021, CMA requires Countryside and Taylor Wimpey to remove leasehold terms, Competition and Markets Authority,www.gov.uk/government/news/cma-requires-countryside-and-taylor-wimpey-to-remove-leasehold-terms, 20 March 2021, NEWS, Sweney, Mark, 19 March 2021, Taylor Wimpey and Countryside told to remove ‘unacceptable’ leasehold terms, The Guardian,www.theguardian.com/business/2021/mar/19/taylor-wimpey-countryside-leasehold-cma-ground-rents, 20 March 2021, NEWS, 19 March 2021, Builders told to remove ‘unfair’ ground rent terms, BBC News,www.bbc.co.uk/news/business-56453678, 20 March 2021, In December 2021, Taylor Wimpey formally committed to remove the terms from leasehold contracts and exclude them from new contracts; it would also pay third party freeholders of leases that Taylor Wimpey originally owned to enable their leaseholders to do the same.NEWS, Housebuilder Taylor Wimpey axes ground rent rises,www.bbc.co.uk/news/business-59753095, 22 December 2021, BBC News, 22 December 2021, The CMA’s chief executive Andrea Coscelli said Taylor Wimpey’s action was “a huge step forward”, describing the ground rent rises as “totally unwarranted obligations that lead to people being trapped in their homes, struggling to sell or obtain a mortgage”. In August 2022, the CMA ruled that people who had to pay double ground rent would be refunded.WEB, Media, P. A., 2022-08-24, Thousands more homeowners in UK to be refunded for doubling ground rents,www.theguardian.com/business/2022/aug/24/thousands-more-homeowners-in-uk-to-be-refunded-for-doubling-ground-rents, 2022-08-24, the Guardian, en,

Opposition to government climate change targets on new homes

In 2021, Taylor Wimpey was among a 2% minority of respondents to government consultations on future homes standards, opposing plans to cut carbon dioxide emissions from new homes by 75% to 80% from 2025 and arguing against heat pumps (proposed as replacements for gas boilers). Greenpeace claimed Taylor Wimpey was trying to derail UK climate policy, which the company strongly denied, saying it was concerned about practical implementation of the cuts.NEWS, Booth, Robert, Housebuilder Taylor Wimpey opposed plans to cut new home emissions,www.theguardian.com/business/2021/jul/05/housebuilder-taylor-wimpey-opposed-plans-cut-new-home-emissions, 5 July 2021, Guardian, 5 July 2021,

Hackney demolition

After structural problems were discovered in the concrete frame of a new £48m residential scheme in Hackney Wick, east London, Taylor Wimpey opted to demolish the block prior to reconstruction of the building. After two years of construction work, nearby residents faced 22 weeks of demolition work; one said “we’re now into our third year of incessant and unbearable noise without a single discussion with Taylor Wimpey or any attempts to help/support the residents whose quality of life they are ruining.” Taylor Wimpey apologised to local residents.NEWS, Prior, Grant, Demolition starts on half-built £48m Taylor Wimpey flats,www.constructionenquirer.com/2022/08/05/demolition-starts-on-half-built-48m-taylor-wimpey-flats/, 5 August 2022, Construction Enquirer, 5 August 2022,

Competition law

In February 2024, Taylor Wimpey was among eight UK house-builders targeted by the Competition and Markets Authority in an investigation into suspected breaches of competition law. The CMA said it had evidence that firms shared commercially sensitive information with competitors, influencing the build-out of sites and the prices of new homes.NEWS, Morby, Aaron, Competition probe launched into 8 major house builders,www.constructionenquirer.com/2024/02/26/competition-probe-launched-into-8-major-house-builders/, 26 February 2024, Construction Enquirer, 26 February 2024,

References

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External links

• {{official websitewww.taylorwimpey.co.uk}}

{{Construction industry in the United Kingdom}}{{Real estate in the United Kingdom}}{{FTSE 100 Index constituents}}{{Authority control}}