Saturday, July 26, 2008
Last roll of the dice? For Barratt, HBOS and BTL?
Struggling housebuilder Barratt has held preliminary talks with major UK banks, such as HBOS, about creating joint ventures to own and rent out new homes it is struggling to sell. The plan envisages a joint venture vehicle created between the housebuilder and a financial backer. The joint venture would then buy the houses at near cost price and rent them out to the private market. Uhm would be interesting to see how much a 400,000quid executive detached desirable much sought after home really cost to build. I suspect about 100,000 quid!