Bellway

Bellway’s plan to buy smaller housebuilder Crest Nicholson for around £720 million is now off despite months of negotiations.

John Tutte is to join the board of housebuilder Bellway as non-executive chairman designate on 1st March 2022. Mr Tutte will succeed Paul Hampden Smith, who will retire from the board as non-executive chairman on 1st April 2022, following almost nine years' service as a non-executive director.

Bellway has said it is "enjoying a particularly strong performance" in Scotland after the housebuilder reported a massive increase in profits and home completions.

Housebuilder Bellway is to gradually reduce its investment in London in favour of generating growth elsewhere in the UK.