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21/01/2011

Skanska Secures First UK Residential Development Site

Skanska has announced it has exchanged contracts to purchase its first UK residential development site.

The news follows the announcement in December that it was to establish a Residential Development business in the UK.

The site, which extends to around 6.5 acres, is situated in Cambridge, and forms part of Countryside Properties’ Great Kneighton development. It has outline planning permission for 128 properties including both houses and apartments.

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In the next stage, Skanska will submit details to obtain detailed planning permission for its new homes, which will be delivered based on sound sustainable principles, developed to Level 4 of the Code for Sustainable Homes. It is anticipated that the detailed planning process will be concluded during the first half of 2011 with construction planned to start later this year.

(CD/KMcA)

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