Former directors at national housebuilders, Gladman Homes who is based in Congleton have launched a new housebuilding company.

Portrait Homes, which is based in Congleton Business Park will be headed up by chairman David Gladman, his business partner, Jon Shepherd and Dr Ed Gladman.

The company will initially be focused on the buy-to-rental market and more specifically, single-family homes. However, it will also have a focus on private sale options alongside the rental portfolio.

David Gladman, chairman of Portrait Homes, said: "The UK is currently facing an acute housing shortage.

"Most young people are desperate to get onto the property ladder and many feel that this goal is unattainable in the current economic climate.

Gladman House in Congleton which is headquarters of Gladman Developments, recently sold to Barratt Homes (Image - Nub News)

"The imbalance between supply and demand is forcing house prices and rents ever higher, which, in turn, is causing more young people to live with their parents for longer."

His business partner, Dr Ed Gladman also commented: "As a new, fast-growing, and privately owned house builder based in Congleton, Portrait Homes will offer two, three and four-bedroom semi-detached and detached homes for buy-to-rental and private residential sales."

The rental market is expected to grow rapidly over the next few years, with an estimated 70,000 single-family homes expected to be built by 2032 to cope with the increasing demand.

David Gladman has been the founder and chairman of Gladman Homes, which is headquartered in Congleton since the company began in 1987.

It has grown to be the largest land promoter in the country.

It was announced in January that Gladman Developments had been sold to Barratt Homes for £250m.

Got a business story? Email [email protected]

Follow Cheshire Business Nub on Facebook, Twitter, and LinkedIn