Reports that troubled housebuilder is looking at 4,400ha fire sale
Barratt Developments is reportedly looking to sell off around 4,400ha of land in a fire sale that would net the company between £100m and £200m.
According to the Sunday Times, Barratt has hired Credit Suisse to gauge interest from potential buyers for its “strategic” land, or land without planning permission. This could be as much as 4,400ha.
Barratt wrote down the value of its land portfolio by more than £200m last month, and cancelled its final dividend. The paper reports that private equity group Texas Pacific is among the interested bidders for Barratt's land.