The home builder mentioned this morning it’s urgent forward at tempo, shifting decisively from investigation to supply.
Its constructing security provision fell to £829m on the half yr after £73m was spent on remediation within the six months to December. Crucially, no new points emerged that required an uplift within the general estimate.
Barratt Redrow has now recognized 280 buildings in its energetic constructing security portfolio. Of those, 194 are at tender stage, mobilising or already on website — underlining the size of dwell exercise now underneath approach.
Round 95% of the energetic portfolio has been assessed underneath Hearth Danger Evaluation of Exterior Partitions steering and may have an acceptable PAS 9980 evaluation in place.
Separate from cladding and façade points, the builder is carrying a £187m provision for bolstered concrete body remediation.
Spend on concrete body works was restricted to £4.4m within the interval, with heavier prices anticipated to land in FY27 and FY28 as soon as detailed structural modelling and non-linear evaluation is accomplished.
The bolstered concrete body portfolio covers 165 buildings. Of those, 76 require no remediation, 17 have been accomplished, 21 stay underneath evaluation and 51 are progressing by means of numerous phases of remediation.
