Wates has launched a new residential business as part of its plans to expand its housing investment and sales-led development across the UK.

'Wates Residential' will look to sustain and build upon its contractor relationships with social landlords, while also expanding its investment portfolio and increasing sales activity in the private housing market.

The announcement follows the separation of the group's new-build housing division and its social housing maintenance business, which will retain the Wates Living Space brand.

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Jo Jamieson, Managing Director of Wates Residential, said: "Our new business strategy will enable us to build our relationship with our core social landlord client base, while also unlocking new and innovative development opportunities, to which we will bring our extensive place-making expertise.

"Investment in development is a vital means to deliver skills training, breathe new life into communities and of course create high quality new homes and these vital issues will continue to be our focus as we take our business forward."

David Brocklebank, Group Managing Director, Residential Developments Group, added: "Bringing Wates Residential together with Wates Developments allows us to combine our strong capabilities across the growing residential sector. Notably we can offer land investment and scheme promotion, specialist planning delivery and residential land sales, plus our developments to include joint venture partnerships in both private and public sectors."

(LM/CD)