London-listed housebuilder Berkeley has acquired the remaining 50 percent interest it did not already own in St. William Homes from partner National Grid for £412.5 million ($537.7 million).
The all-cash deal will give Berkeley full control of 19 sites already under its land holdings and their roster of 12,600 homes.
The full ownership of St. William Homes, set up in 2014 to develop industrial sites into residential developments in London and the southeast United Kingdom, will bolster Berkeley’s earnings for the next three years.
