Galliford Try has bought two major housing regeneration sites in the West Midlands worth £31m following Bouygues UK’s decision to exit the low-rise family housing sector.
Galliford Try Partnerships, the company’s regeneration arm, said it had now completed the acquisition of two regeneration projects in Wolverhampton that will see more than 220 homes built across the sites.
A Bouygues spokesman said: “The sale of the Tap Works and Tower and Fort Works development sites follows a decision to focus Bouygues UK’s activities on its core sectors.”
The Tap Works project is a £20m 150-home development on the site of bathroom manufacturer Armitage Shanks’ former factory.
The second development is on the site of Wolverhampton’s former Tower and Fort Works at the city’s historic Great Bricklin Street, and will see Galliford Try build a 77-home development valued at £11m.
Bouygues UK was chosen to develop both schemes by Wolverhampton City Council in April 2017.
Bouygues’ exit left the sites at risk of being mothballed, but Galliford Try has said it will deliver the projects in line with their scheduled 2020 completion date.
Galliford Try already has a significant presence in Wolverhampton and is currently carrying out the £19m redevelopment of the city’s main railway station.
Galliford Try Partnerships chief executive Stephen Teagle said: “Our intervention ensures these significant projects are delivered as originally agreed.”