Galliford Try secures £52m Cardiff development

(Sharecast News) - Construction firm Galliford Try confirmed its latest major project on Tuesday, with both its investments and building units securing contracts with a significant build-to-rent operator for a development in Cardiff valued at £52m. The London-listed firm said the ambitious development was set to rise at Guildford Crescent, close to Cardiff's city centre.

Once completed, the tower would house a total of 272 units, comprising both one- and two-bedroom apartments spread across 30 floors.

Alongside the residential apartments, plans for the project included augmenting the existing public realm, offering both residents and the broader community improved public spaces.

Furthermore, the ground floor of the tower was set to feature retail spaces.

"Build to rent is a key area for growth within our business's sustainable growth strategy," said chief executive officer Bill Hocking.

"The Guildford Crescent scheme is the first of a number of similar schemes we are taking on in this space and we look forward to creating fantastic new living spaces for the community in Cardiff alongside our partners."

At 0926 BST, shares in Galliford Try Holdings were up 2.28% at 201.5p.

Reporting by Josh White for Sharecast.com.