Developer in talks over four regeneration schemes in north-west England
Manchester developer Artisan is in talks to take over full control of two regeneration projects from joint venture partner Barratt, it is understood.
News of the talks emerged a week after Carol Ainscow, the firm’s founder and chief executive, underlined that affordable housing would be a central part of the company’s strategy in the current market.
She is believed to be in talks with Barratt about taking full control of BASE, a joint venture between the two companies launched in 2005 to deliver regeneration schemes in Hattersley and West Gorton, both in Greater Manchester.
Hattersley, worth a total of £100m, involves more than 900 new-build homes. The value of West Gorton, which includes 1,200 new homes is currently unknown.
It is understood that Artisan would also ensure the construction and delivery of two BASE schemes in Rochdale and Oldham.
The four would be built by Artisan’s construction division, whose future appeared unclear after the departure of Peter Millett, its managing director.
The division, which has a £30m pipeline of work, is currently being run by Paul Curran, its acting managing director.
Ainscow denied speculation that the construction division would close, but said she was reviewing the business’ cost base. She said: “The performance of the division has persuaded me to make changes and I’m conducting a thorough cost review.”
Artisan has not made any comment on the talks.
Barratt declined to comment.