Six major housebuilders have signed up to a government pledge to pay for cladding remediation.
Berkeley Homes, Crest Nicholson, Gleeson, Persimmon, Redrow and Taylor Wimpey have all announced that they will join the building safety pledge.
The Department for Levelling Up, Housing & Communities has devised the deal. It commits the companies to remediating all buildings over 11m in height that have fire safety problems.
And it applies to buildings that developers had any involvement in, going as far back as 30 years ago.
Developers set aside millions
Crest Nicholson has announced that it will set aside £80m for the cost of the scheme. Persimmon has put its costs at £75m, while Redrow has set aside an additional £164m. Meanwhile, Taylor Wimpey has set aside a further £80m, bringing the total it has set aside for remediation to £245m.
In a statement today (6 April), Redrow said: “Historically Redrow has not been a major constructor of high-rise apartments. Due to our limited expertise in the design and building of such schemes, we outsourced the design and construction of the vast majority of these developments to principal contractors. To date, Redrow has provided for estimated remediation costs of the small number of such buildings we constructed ourselves.”