Barratt nets £109m from three development sales

Barratt has reported progress in the sale of assets from the Wilson Bowden Developments portfolio.

It expects to make £109m from three deals that were signed off on 18 November.

Eagles Meadow shopping centre, Wrexham

Contracts have now been exchanged for the sale worth £79m.  On completion, Barratt is expected to receive £74m with the balance coming post completion which should be just before the end of December.

Commercial land for supermarket development, Chesterfield and Atlantic Quay 4 office development, Glasgow

The two have been sold for a combined figure of around £30m.

The much-needed funds will be used to pay down Barratt’s high level of borrowings.

Discussions on the sale of further assets from the Wilson Bowden Developments portfolio are progressing.