Yelcon buys Camstead Homes
David Rapley, Founder and former sole shareholder of Camstead Ltd, has sold the
business to developer Yelcon Ltd for a substantial sum. Camstead will be a wholly-owned subsidiary
of Yelcon, but will continue to trade as Camstead Homes.
"As Yelcon is also a very successful housebuilder, the two companies are a natural fit. It is a bonus
to be able to keep Camstead in the family – Yelcon was founded by my father, Raymond Rapley, in 1952,
and is today led by my dynamic brother Martin Rapley, who is Managing Director. I have put the last
twelve years of my professional life into Camstead, so it is very important for me to see it stay in safe
and sympathetic hands," explains David Rapley. "I have been approached by a number of developers and
housebuilders to acquire Camstead over the years, but I only decided to sell when the opportunity arose
to sell Camstead to Yelcon. The sale will enable Camstead to access increased funding, be more ambitious
and take on larger and more complex schemes."
Yelcon's MD Martin Rapley has built his reputation with major mixed use and commercial schemes, mainly
in the North of England. Under the banner of Scotfield Ltd, he is now leading the development of The Gateway
in Leeds, a 1 million sq ft, £150M, mixed use scheme which is one of the North’s largest ever regeneration
projects.
"Cambridge has been, and continues to be, a fantastic location for new homes and David's company has built an
enviable reputation in developing prestigious residential schemes in that market. This purchase is a great
opportunity
for Yelcon to share in the growth of the Cambridge and Eastern Region new homes markets,"
comments Martin Rapley.
Camstead has enjoyed incredible growth and success over the last few years with a current development
programme of over 250 plots in prime locations across East Anglia, including seven sites in central
Cambridge and sites further afield in Brampton, Melbourn and Over.
David Rapley is no longer a Director or working with Camstead, having decided to pursue other
local business interests.
