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Mersey briefs advise on Morgan's Redrow deal.

CORPORATE lawyers at Merseyside law firm Mace & Jones have advised Harrow Estates on the pounds 15m sale of its business to Flintshire-based house building giant Redrow.

Liverpool-based corporate partner Ian Hodgkinson worked on the sale of Preston Brook-based Harrow Estates from the Bridgemere group of companies owned by Redrow chairman Steve Morgan.

The deal involves the acquisition of five freehold land assets and options to acquire seven further strategic land assets, together with the business of Harrow Estates, for pounds 15m.

Mr Morgan said: "We are returning Redrow to its traditional focus on a great product in the market for family housing.

"We now need to enhance our ability to acquire land through selected acquisitions.

"This is all part of our strategy to steer the business back to delivering a much improved return on capital employed as possible."

CAPTION(S):

Steve Morgan - improving return on capital at Redrow
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Publication:Daily Post (Liverpool, England)
Date:Sep 29, 2009
Words:148
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