MJ Gleeson confirms it may sell its land division

Artist's impression of new homes at Vale Croft, Parson Cross, to be built by MJ Gleeson
Artist's impression of new homes at Vale Croft, Parson Cross, to be built by MJ Gleeson
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MJ Gleeson confrimed it is looking at options for selling it strategic land division.

Following recent press speculation that it has appointed Lazard to explore and advise it on a range of options for Strategic Land, the firm confirmed that a number of third parties have expressed interest in the possibility of acquiring it and that it “is possible that a sale of the business may ensue, but it is by no means certain that this will be the outcome of the review”.

Gleeson’s Strategic Land division is a land promotion business that enhances the value of land by securing mainly residential planning consents, predominantly in the South of England. The business’s portfolio comprises 59 sites which could deliver 22,232 plots and 67 acres of commercial land.

A spokespersons said: “A further announcement will be made if appropriate in due course.”