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Galliford Try exits Anthology resi framework

Private equity-backed developer Anthology has not included Galliford Try on its framework after failing to agree contractual terms with the firm.

The developer entered into detailed negotiations with the contractor in 2014 along with Bouygues, Sisk and Wates for its growing pipeline of residential work in London.

Anthology managing director Mark Dickinson said: “After a full review of the construction marketplace in late 2014, we selected four contractors to enter into detailed negotiations on a framework agreement.

“Following reviews of the professionals and commercial documentation in spring 2015, we were unable to agree terms with all parties and proceeded only with three contractors: Sisk (South-east), Wates and Bouygues.”

Both Anthology and Galliford Try said the companies remained on good terms and did not rule out working together in future.

Anthology has two London sites in its pipeline, on which up to 550 homes will be built by 2018.

It hopes to deliver between 600 and 800 completed homes a year by around 2020.

Anthology is backed by private equity firm Oaktree’s European Principal Group, which has $6bn (£4.03bn) of assets under management in Frankfurt, London, Los Angeles, Luxembourg and Paris.

The value of its total pipeline is unknown, but Oaktree’s backing suggests Anthology is aiming to become a significant player in the London residential market.

A Galliford Try spokesman added: “Unfortunately, at this time, Galliford Try is unable to reach agreement with Anthology to become a member of its contractor panel. We wish them well in their venture and do not rule out working with them in the future.”

Anthology is looking to acquire land unconditionally (without planning permission) between zones 2 and 4 in the capital.

Last year it bought its first site – Arklow Road Trading Estate in Deptford – which has space for up to 300 homes.

The team is going through the process of obtaining planning permission from Lewisham Borough Council for the site, which was formerly a light industrial unit.

Anthology hopes to receive planning approval by the end of the year and to have started construction by January 2016.

The company announced the acquisition of its second site in March: the 0.4 ha Amex House in Wembley, which can accommodate up to 250 homes.

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