Barratt to continue with Wilson Bowden Developments

Housebuilder Barratt has confirmed its intentions to keep Wilson Bowden Developments, which is currently developing Rochdale's Kingsway project, after speculation mounted over its possible disposal.

Regarding its first-half results to 31 December today, Barratt said: "We have completed our strategic review of the business and are encouraged with the existing and potential future value that exists within its portfolio.

"Whilst there are overlaps with our core housebuilding operations, in areas such as regeneration, we intend to continue to run the business as a stand-alone segment and deliver shareholder value by developing its current portfolio."

Barratt acquired Wilson Bowden in April last year. From June to December 2007, Wilson Bowden Developments contributed £4.3m towards its £42.5m turnover, which Barratt said was satisfactory in the current market.

As part of the Kingsway Partnership, which also includes the North West Development Agency, Rochdale Metropolitan Borough Council and Rochdale Development Agency, Wilson Bowden will play a part in developing the 420-acre business park over 15 years.
Kingsway has planning permission for 3.3m sq ft of potential floor space for offices, storage and distribution, hotels, ancillary retail and leisure uses, together with residential and 74 acres of parkland.