Skanska has sold the second plot of its UK residential development land bank for £35 million (approx. €44 million) to Crest Nicholson. The transaction is recorded by Skanska UK in the second quarter of 2014.
The site is in the popular Trumpington area of Cambridge and is sold with planning permission for 274 homes. The land sale follows Skanska’s decision to focus its UK business on other investments, such as infrastructure and commercial developments.
Skanska UK reported revenues of about SEK 12 billion (approx. €1 billion) in 2013. It has around 5,200 employees. The company is active in building and civil construction, utilities and building services, as well as facilities management and commercial development. In the UK, Skanska is a leader in public-private partnerships, PPPs, also known as private-finance initiatives, PFIs.