The move came as the house builder issued an upbeat trading statement to the City.
Executive chairman Steve Morgan said: “Redrow has made good progress under a strategy designed to return it to its roots, selling high-quality, differentiated family homes.
“We now believe the time is right to accelerate that strategy by taking advantage of the development opportunities we see.
“During the year to date we have secured planning on over 3,000 plots from our forward land bank, acquired new sites totalling £50 million within Harrow Estates and commenced construction on our two largest London sites.
“There are an increasing number of land opportunities both in London and in the regions and as such we are looking to raise further capital to enable us to take advantage of these opportunities as they arise.”
The firm set up a London division in 2010 which has since acquired six sites with a gross development value of £300m.
Major developments outside London include Woodford Aerodrome in Cheshire, where pre-planning consultations are currently taking place with a view to an application for a Garden Village for 800 homes.
