Major housebuilders to re-open sites next week

Bridging Loans News:- One of the UK’s largest housebuilders Persimmon has said it will start to re-open sites on Monday, April 27.

Yesterday Vistry Group and Taylor Wimpey’s announced they would gradually resume work at their sites under strict social distancing guidelines.

Vistry, comprising Bovis and Linden Homes, will re-open a number of its housing sites from Monday onwards. Taylor Wimpey is to restart English and Welsh sites from May 4 with site management teams and sub-contractors following on May 4.

Persimmon Group chief executive David Jenkinson, said: “The UK government has been very clear on the importance of the construction sector to the UK economy and its desire to see activity continue through the current period of crisis, provided appropriate public health measures are adopted.”

Housing minister Robert Jenrick described the move as a “big step forward for securing thousands of jobs” within the sector.

“Social distancing guidelines must be followed, but where they can be, construction can and should continue,” he tweeted.

Mr Jenkinson said Persimmon had developed and tested a range of site protocols to ensure necessary social distancing was ‘strictly enforced’.

“Persimmon’s strong financial liquidity has enabled us to maintain our operational capability through this period by supporting all our colleagues on full pay, which will allow us to reopen sites swiftly, and emerge from the shutdown well-prepared and ready to deliver the new homes the country needs, aided by our strong work in progress position,” he said.

Persimmon added it had paid 95 per cent of its suppliers within 60 days. The company is to announce a trading update for the period from January 1^st to date on April 29^th.

Bridging Loans by HZA

Brokers Hank Zarihs Associates added development finance lenders were keen to support housebuilders with a range of funding options including instant bridging loans.

Scotland and Wales press for two-metre rule enforcement

The majority of sites re-opening are expected to be in England where firms are advised to maintain the two-metre distance wherever possible.

Scotland and Wales have adopted a stricter stance with the Welsh Assembly passing legislation compelling all employers to ensure the two-metre rule.

Scotland’s first minister Nicola Sturgeon has said the construction work during the lockdown can only continue if it’s for essential repairs or connected with hospitals and emergency services.

Scotland’s major trade union for construction workers, Unite has said its members had voted not to return to construction sites for non-essential work.

Unite Scotland construction chair John Gillespie said members were reluctant to go back to work unless their safety could be guaranteed.

“We do not feel that the curve has been reduced to a level that takes enough pressure off our vital NHS workers in Scotland, and that construction workers should not be used as test subjects by building luxury flats to get an economy moving that values wealth at the expense of our health.”

The trade union is pressing the Scottish government to follow Wales’ lead and pass a bill forcing employers to maintain the two-metre distance rule.