Telford Homes has confirmed it will sign the Department for Levelling Up, Housing and Communities’ building safety repairs contract this week.
The housebuilder said it will sign the contract “as a responsible player in the market”.
Telford Homes chief executive Anne Kavanagh told EG that the company had not previously signed because it was awaiting shareholder approval and that it had not received the final contracts from the government.
Kavanagh added that it has been “challenging” for a US company that bought a UK company to see that “the laws have been changed retrospectively”.
She said: “In my 30-year career, that is something that stops you from investing anywhere. But because of the circumstances of this, our shareholders have taken the view that it is the right thing to do and we will be signing.”
Kavanagh added: “We hope to not see any more retrospective legislation as it makes it impossible to do business.”
Telford was acquired by US firm CBRE in 2019.
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews
