Contractor becomes housebuilder with deal for 128-home Countryside Properties site
Swedish contractor Skanska has bought a 128-home development site off Countryside Properties, its first acquisition since it announced it was creating a housebuilding business at the end of last year.
The 6.5 acre site forms part of Countryside Properties’ 2,550-home Great Kneighton development near Cambridge, and currently has outline planning permission.
It said it will submit a detailed planning application for the homes, which will be built to Code level 4, shortly, in order to begin construction before the end of the year.
Skanska announced in december it was opening a housebuilding business in the UK because it saw the residential market having the “best growth potential.”
Magnus Andersson, president of Skanska Residential Development UK, said he was “delighted” to have made the purchase. He said: “This marks the start of an exciting new journey for Skanska in the UK.”
Richard Cherry, deputy Chairman of Countryside Properties, said the firms shared a “similar vision”.