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A Derbyshire based property giant has announced a name change and rebrand – as well as a rise in turnover and profits.

CWC Group, which is headquartered at Ednaston, near Ashbourne, has revealed it is changing its name to Clowes Developments.

It comes after the firm announced record-breaking financial results for the last financial year in which turnover climbed to £116 million and profit surpassed £39 million.

Clowes Developments is one of the º£½ÇÊÓƵ’s largest privately-owned property groups.

It has continued to deliver several standout developments over the past year, including the new £800 million mixed use Fairham site, south of Nottingham, and has a healthy pipeline of sites and projects for the next ten to 15 years.

Clowes holds over 3,000 acres of land and 15,000 residential plots in 130 development sites across the country, as well as more than 50 office and business parks and a number of larger mixed use sites such as Fairham.

David Clowes, chairman of Clowes Developments, said: “We are a company created in the image of our founder, my father Charles Clowes: fiercely independent and principled and with a commitment to always doing the right thing.

“Likewise, our new brand is much more than just a new logo; it goes to the heart of our history and reflects our whole approach to doing business. It also keeps our CWC roots in a new hallmark explaining our founding in 1964.”