Ms Prongué will take up the position in the new year, taking over from Helen Bunch who is retiring after an esteemed 19-year career at Wates.

With decades of experience from the real estate sector, she joins from Bouygues UK where she was managing director for London and the South East.

Ms Bunch, who served as executive managing director for the Residential business since 2020, leaves Wates having overseen a 150% growth and a 73% increase in operating profit during her leadership.

Prongué will look to build on this growth, with over 10,000 homes in delivery or the development pipeline for the next five years.

Eoghan O’Lionaird, chief executive at Wates Group, said: “All of us at Wates are grateful to Helen for her exceptional leadership and contribution to the group. Our Residential business has grown significantly under her stewardship thanks to her drive, determination, and commitment to our purpose of delivering much needed high-quality homes for those that need them most. We will all miss her greatly and wish her the best for her retirement.

“Looking to the future, we are delighted to have Pip come on board to continue this work with her proven track record across the sector that spans many high-profile and large-scale regeneration and residential-led development schemes.

“Her expertise and knowledge will support us in driving forward our strategy, building on existing partnerships, and realising new opportunities for residential development across the UK.”

Phillippa Prongué said: “It’s an exciting time to be joining the Residential business at Wates. It has already seen immense growth under Helen’s direction. I look forward to joining a team of talented people whose expertise, ingenuity, and diligence has resulted in an exceptional business with a clear purpose, culture, and ambition.”

Helen Bunch added: “After an incredibly rewarding 19-year career with the Wates Group, I have taken the decision to retire. I am pleased to be handing over to Pip who I know will continue to support the fantastic work that the Residential team is doing to deliver the safe, sustainable and low-carbon buildings and infrastructure the UK needs.”