Linden Homes, which was bought by Galliford Try in March, is making its first foray into the central London housing market.
Linden London, which is to open later this month, has acquired a number of sites on the outskirts of the City, and is planning a land buying spree.
The division will be headed by Steve Lavers and Gary Durden, both Linden directors. They will have an office in Hanover Square in the West End. Lavers said Linden’s experience in the area around the M25, its traditional focus, coupled with Galliford Try’s construction record in central London, meant it had a basis for growth there.
He added: “Central London is a new market for us and we are confident that property prices will continue to rise strongly based on continued demand from within the City and outside the UK.”
Galliford Try announced in a trading update that it is expecting to perform “significantly above market expectations” in the year to 30 June.
The company said completions rose 45% to 1,530 units and forward sales rose 137% to £185m during this period.
The results reflect Galliford’s purchase of Chartdale Homes last year.
Galliford Try said its construction business had also performed well, boosted by the first full year since it acquired Morrison Construction.