Housebuilder will use money to reduce 拢1.7bn debt

Barratt has netted 拢46m from the sale of industrial land and buildings from its Wilson Bowden Development arm.

Some 拢39.2m is due upon completion, scheduled for early 2009, with the remainder expected to follow over the course of the next 18 months.

It follows a deal earlier this month that saw it bag 拢109m from the sale of two sites in Wrexham and Glasgow.

The cash will be used to reduce its 拢1.7bn debt pile.

The company said the process of selling further Wilson Bowden Development assets is ongoing.

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