New Chief Executive for Story Homes

November 2009

David Broadbent, former Managing Director and Regional Chairman of Persimmon North-West has been appointed as Chief Executive for the Homes division of the Story Group - one of Cumbria’s most successful companies.

You might expect him to be daunted at the prospect of leading and driving the growth in what can only be described as ‘uncertain’ times, but he is keeping calm and collected - one of the main reasons he was chosen to take on this challenging role.

With over 25 years' experience in the house building industry, David has an enviable mix of experience and knowledge. 'I have spent the last 16 years working for Persimmon as initially MD, and for the last nine years I have been the Regional Chairman responsible for directing four Persimmon companies in the North-West which covers a vast geographical area. I know the area well and I already knew of Story’s reputation from my previous role. They are a good, solid company with a wealth of experienced staff and a great resume of successful projects already under their belt.'

Combine that sector knowledge with his experience in land acquisition, housing developments and commercial acumen to form a picture of the ideal candidate to grasp opportunities for this arm of the Story Group.

'Knowledge of the housing market, working on a variety of projects, keeping a close watch on the core business and at the same time operating at Chief Executive level are the things I'm used to doing on a daily basis,’ says the new CEO.

David says the high points of his career to date have been in securing and managing several landmark company acquisitions in the last 10 years such as the Senator/Merewood/Crowther deals in Cumbria and Ideal/Beazer/Westbury in the North West. His words are modest given that 16 years ago Persimmon were building 100 houses per year in the North-West and under David’s guidance they achieved nearly 2,000 completions per year making them the largest house builder in the region.

Having spent most of his career in the house building industry David has also worked for the likes of Salvesen Homes (now Redrow), Poco Homes (taken over by Walter Lawrence), Pilkington Properties and Barratts Homes.

Although David has seen an enormous amount of change over the years, he is excited by this new challenge. He believes that the time is right for Story’s to expand existing operations and look for opportunities both locally, regionally and further afield. He sees the careful and controlled expansion of the Homes and Land divisions of Story’s as a vital component in taking the company forward and securing its long term future.

'The quality of people at Story’s is fantastic. We have a very experienced team of planners, land buyers and project managers, all of whom are essential in securing successful land acquisitions and subsequent planning right through to the delivery of award winning developments. We are always looking to secure new sites and opportunities and we actively welcome approaches from landowners and agents particularly in the North East, North West, Cumbria and South Scotland areas. Story Group is privately owned with the majority shareholder and Chief Executive, Fred Story, closely involved in all acquisitions. This means fast and flexible decision-making, maximum value and overall an honest and straight-forward approach, which reflects the ethos of the Story Group as a whole.’

Commenting on the appointment of his new CEO Fred Story added ‘I have known of David’s reputation within the industry for some time now and I was very pleased when he agreed to come and lead the Homes team at Story’s as his experience and commercial awareness will help us to expand our operations. There’s no denying that the housing market is difficult at present but we are optimistic about the prospects for the medium and long term, where we have an investment programme with land not just in Cumbria, but outside the area and we are pursuing land opportunities from the M54 to the M8. I am sure David and his experience will be pivotal in helping to realise these opportunities.’

David lives in Manchester and he is married with grown up children.