RE: Housebuilders fall as watchdog announces lease action28 Feb 2020 12:28
muscat
Quote:
" did they not put away £130m for this problem. Bets its going to cost alot more when the ligation starts. Sell before the big fall out. this is not going away in a hurry "
They have Net Cash of £545.7 million, Will that cover it ?
They have 170,000 building plots, 10 years worth at current build rate of 16,000 house a year, 76,000 have planning permission, 5 years worth of house building. So they can slow up on spending money on buying new land any time they want. Planning permission last 5 years so I assume that is why they haven't bothered to obtain planning permission on all plots yet as it would lapse after 5 years if footings were not started (once started it's ok). TW management seem to know what they are doing.