Housebuilder will use money to reduce £1.7bn debt

Barratt has netted £46m from the sale of industrial land and buildings from its Wilson Bowden Development arm.

Some £39.2m is due upon completion, scheduled for early 2009, with the remainder expected to follow over the course of the next 18 months.

It follows a deal earlier this month that saw it bag £109m from the sale of two sites in Wrexham and Glasgow.

The cash will be used to reduce its £1.7bn debt pile.

The company said the process of selling further Wilson Bowden Development assets is ongoing.