A bit of construction industry news for you now – Housing Developer Balfour Beatty has boosted its affordable housing arm by acquiring Strata Construction who specialise in low cost developments. The move is no doubt a reaction to the current market which has seen an increase in sell and rent back deals and a wholesale move towards low priced property as people struggle to get a mortgage.
The price tag on Strata was £10.3m and was purchased primarily to increase exposure to the affordable housing market in Yorkshire. With Balfour being one of the biggest constructors in the UK, their business is a good indication of the industry as a whole and their recent announcement of contracts worth more than £206m with QinetiQ can only be a good thing.
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