Redrow has announced plans to quit London as buyers seek larger homes in the country.
The firm, which built 6,443 homes last year, said it would refocus on the regions and its ‘heritage product’. The London market currently accounts for 15% of its turnover.
The housebuilder has also said it will return taxpayers’ money accepted under the furlough scheme.
“I think it’s hard to justify taking government money when your cashflow is reasonable,” John Tutte, executive chairman, said.
and The Times (£)
