Housebuilder says it is focusing on London and South East

Redrow has put its Scottish business up for sale as it targets continued growth in London and the South East.

The housebuilder expects to complete the sale “in the coming months”, it said in a trading update to the City this morning.

The firm also reported positive trading figures for the start of the year, with both its private order book and average sales price up on the same period last year.

Real-time Share Price
Real-time Share Price

Redrow said in its statement: “Our private order book at 17 April stood at £139m, 6% up on this time last year (2010: £131m). 

“As a consequence, despite a slow first half, we expect legal completions for the full year to be marginally ahead of last year.”

Redrow will issue an Information Memorandum to interested parties in its Scottish business shortly.