Croydon council set to turn down Urban Splash offer for troubled housebuilding company

croydon

Officers at cash-strapped London borough recommend sale is halted despite ’reasonable’ offer

Croydon council is set to reject an offer by Urban Splash to buy its troubled housebuilding company, Brick By Brick, despite concluding it represents good value.

A report published late yesterday for the council’s scrutiny committee said the council was intending to reject the offer for Brick By Brick – which it confirmed for the first time was from regen developer Urban Splash – and instead build out more of Brick By Brick’s programme itself, before winding the business down.

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