Contractor becomes housebuilder with deal for 128-home Countryside Properties site

Swedish contractor Skanska has bought a 128-home development site off Countryside Properties, its first acquisition since it announced it was creating a housebuilding business at the end of last year.

The 6.5 acre site forms part of Countryside Properties鈥� 2,550-home Great Kneighton development near Cambridge, and currently has outline planning permission.

It said it will submit a detailed planning application for the homes, which will be built to Code level 4, shortly, in order to begin construction before the end of the year.

Skanska announced in december it was opening a housebuilding business in the UK because it saw the residential market having the 鈥渂est growth potential.鈥�

Magnus Andersson, president of Skanska Residential Development UK, said he was 鈥渄elighted鈥� to have made the purchase. He said: 鈥淭his marks the start of an exciting new journey for Skanska in the UK.鈥�

Richard Cherry, deputy Chairman of Countryside Properties, said the firms shared a 鈥渟imilar vision鈥�.

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