Since attracting investment from leading private equity firm Palatine in 2022, MORRO's turnover has grown 20% to £80m last year. In this time, it has also increased its headcount by 40%, opened a new East Midlands regional office, and is onsite or bringing forward a pipeline of more than 3,000 plots in the region.
This combination of factors means it is now one of the largest privately owned affordable housing providers in the region. The new MORRO brand has been created to reflect this growth and the developer’s brand purpose as 'better tomorrow makers', responsible for building sustainable communities across the Midlands.
Established for 34 years, MORRO is a trusted development partner to responsible landlords, including local authorities, registered providers of social housing, and Homes England. Operating out of its Staffordshire headquarters and new base in Leicester, MORRO is currently onsite at 21 live sites in the North, East and West Midlands, all of which are for affordable housing and the vast majority are situated on brownfield land.
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Palatine acquired a majority stake in the business in March 2022, a deal which included the appointment of former Westleigh director Matt Moore and founder Chris Beighton, as CEO and Chairman respectively.
Since the investment, MORRO has consolidated its land-led partnership model to enable it to provide local authorities and registered providers with more access to brownfield sites suitable for residential led regeneration.
This approach has seen MORRO invest in a five-strong land acquisition team and a dedicated partnership team over the past year to provide expertise in land procurement and planning as well as ensure a smooth transition through the development stages.
MORRO has incorporated a strong commitment to Environmental, Social, and Governance (ESG) best practice as part of its founding principles. This is illustrated by the innovative use of modern methods of construction (MCC) throughout its approach, which includes a dedication to making 100% of all new schemes timber framed buildings where possible. The construction and operational efficiencies inherent to timber homes provide a wide range of sustainability advantages.
Matthew Moore, CEO at MORRO, said: "Launching the MORRO brand is a testament to Jessup Partnerships’ achievements over the past three decades as well as our dedication to reimaging tomorrow and creating communities across the Midlands where people can thrive.
"Our commitment to creating sustainable, affordable homes that meet the long-term needs of the tenants, operator, and environment has seen us develop a true partnership model. At MORRO, we work closely with all stakeholders to find and analyse the best opportunities, bring them to clients and overcome the complexities of planning and construction. This is led by our expert team, which combines an in-depth understanding of the market and the demands placed on housing today.
"To achieve this synergy, we put a lot of thought and care into our plans and into aligning our values with our partners. And as a local business that’s invested in the future of our towns and cities, we continue the support we provide long after the last brick has been laid."
