Linden Homes regional office to close

Galliford Try-owned Linden Homes is to shut down one of its five regional offices, CJ has learned.

Staff at the Thames Valley office were informed of the decision this week and have now entered a 30-day consultation period, a spokeswoman for Galliford Try confirmed.

The company would not be drawn on how many jobs will be made redundant as part of the move, but stressed that it has no plans to close its other offices based in the South East, Western, Southern and Chiltern regions.

Galliford Try bought £280m-a-year housebuilder Linden Homes in March 2007, spending £110m for its shares and a further £135m to assume its debts.

Profits in the six months to 31 December 2007 in Galliford Try’s housing operations, including Linden Homes, doubled to £230m while profit hit £14m.

Galliford Try chief executive Greg Fitzgerald said that the company had "successfully integrated Linden Homes" and that it was "in a good position to manage the business through a more difficult economic period" when he presented the results in February this year.

But it is thought that the company was forced to take the move to close its Thames Valley in the fall-out from the credit crunch and the worsening property market.