Barratt considers sale of property division for £250m

Barratt is considering the sale of its commercial property division to reduce debt incurred in the £2.2bn acquisition of Wilson Bowden last year.

The housebuilder has instructed Jones Lang LaSalle Corporate Finance to help with the sale of Wilson Bowden Developments, which it hopes will raise more than £250m.

The Financial Times reported the sale is expected to come to market in the next few weeks.

It reported the Wilson Bowden business is not seen as a core concern for Barratt, as commercial property capital values continue to fall and uncertainty remains over occupation