Galliford Try Secures Position on £3.2 Billion Affordable Homes Development Framework
Galliford Try, the U.K. construction group, announced that it has successfully secured a place on a brand-new £3.2 billion ($4.04 billion) development framework for affordable homes. The company stated that it has won a position on Lot 2 of the eight-year framework, which is valued at £2.5 billion and focuses on new build projects exceeding £10 million. Additionally, Galliford Try has also secured a spot on Lot 3, worth £650 million, which caters to regeneration projects.
The development framework is being spearheaded by Communities & Housing Investment Consortium, a nationwide procurement and asset management consortium primarily owned by housing associations and local authorities. Galliford Try expressed its intention to utilize the framework to construct low and medium rise affordable apartments. Chief Executive Bill Hocking remarked, “Our group has a strong track record in residential developments, and the affordable homes market is a key adjacent sector for our business within our sustainable growth strategy.”
Galliford Try’s inclusion in this high-value development framework is a testament to the company’s expertise and reputation in the residential construction industry. With a focus on sustainability, the construction group is well-equipped to contribute to the ever-growing demand for affordable housing.
Analyst comment
Positive news. Galliford Try securing a position on the £3.2 billion affordable homes development framework indicates growth opportunities. With their expertise and focus on sustainability, they are well-positioned to benefit from the increasing demand for affordable housing.
