Last checked at 13 Mar 2023 11:42
13 March 2023
Vistry Group PLC ("the Group") signs UK Government's Developer Remediation Contract
No change to expected costs of remediation
Vistry Group strongly believes that the cost of remediation of fire safety issues should not be borne by leaseholders and has supported the Government's ambition to deliver a lasting industry solution.
We are pleased to announce that the Group has signed the Department for Levelling Up, Housing and Communities Developer Remediation Contract ("the Contract") which details our commitment given in the Building Safety Pledge in April 2022 to address life‐critical fire‐safety issues on all buildings of 11 metres and above in England developed by the Group in the 30 years prior to 5 April 2022, and reimburse any funds disbursed by the Government's Building Safety Fund for buildings we developed. We continue to progress and manage remediation works across the portfolio of applicable buildings.
Our estimate of the potential costs of fire safety work arising from the Group's commitment to the Pledge remains consistent with the detail provided in our full year trading announcement on 18 January 2023, and more detail shall be provided in the Group's full year results announcement on 22 March 2023.
For further information please contact:
Vistry Group PLC Tim Lawlor, Chief Financial Officer
Susie Bell, Group Investor Relations Director
Powerscourt Justin Griffiths, Nick Dibden, Victoria Heslop 01675 437160 or 020 7250 1446 vistry@powerscourt‐group.com