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Galliford Try Holdings PLC on Tuesday said that its Investments and Building businesses have signed contracts with a major build-to-rent operator for a development in Cardiff.
According to the Uxbridge, England-based construction company, the £52 million development will see the creation of 272 one and two-bedroom apartments in a 30-storey tower at Guildford Crescent, close to the centre of Cardiff.
The project will also aim to improve the local public area, as well as providing retail spaces on the ground floor.
‘Build to rent is a key area for growth within our business’s Sustainable Growth Strategy. 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,’ said Chief Executive Bill Hocking.
Galliford Try shares were trading 0.6% lower at 195.90 pence each in London on Tuesday afternoon.
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