Re Contract

RNS Number : 5697R

Galliford Try PLC

30 June 2015

 



GALLIFORD TRY JOINT VENTURE SIGNS DEVELOPMENT AGREEMENT FOR MAJOR SILVERTOWN WAY REGENERATION PROJECT

Galliford Try plc, the housebuilding and construction group, announces that it has signed a development agreement with the Greater London Authority to secure planning and construct the Silvertown Way development in Canning Town, East London.

The proposals will create more than 1,100 mixed tenure homes across a series of individual blocks, in a scheme that has an approximate gross development value of £380 million, making it the largest standalone housing scheme the company has undertaken.

The project will be delivered through an existing joint venture vehicle with Thames Valley Housing Association. A third of the homes will be for private market rent, through Thames Valley's subsidiary Fizzy Living, while around 380 affordable homes will also be constructed for London and Quadrant Housing Association.

Galliford Try's housebuilding businesses, Linden Homes and Galliford Try Partnerships will be responsible for undertaking the development, which is proposed to include a hotel, restaurant, employment and commercial space alongside the new homes.

Greg Fitzgerald, Galliford Try's Executive Chairman, commented: "I am delighted that we have been able to work with all the stakeholders involved in this project to reach an agreement, and deliver much-needed new homes for London. As well as being a hugely significant project for our company, Silvertown Way will be a flagship regeneration project for East London, and we are committed to providing high-quality housing of all tenures for the local community."

Galliford Try -                 Greg Fitzgerald, Chief Executive              01895 855001

                                    Graham Prothero, Finance Director

Notes to Editors

Galliford Try plc is a leading UK housebuilding and construction group. It is listed on the London Stock Exchange and a member of the FTSE 250. The housebuilding business - through its Linden Homes brand - sells distinctive homes to the public and affordable homes to housing associations and local authority providers.  The construction business carries out building and infrastructure work across the UK with clients ranging from major Government departments through to regulated utilities and private sector companies. At the end of the financial year to 30 June 2014, the Group generated revenues of £1.8 billion. 

 

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