Barratt sells £46m of assets

Housebuilder Barratt Developments has sold assets from its Wilson Bowden Developments subsidiary, worth £46million.

The assets include industrial land and buildings.

The sale will see £39.2million paid early next year with the remainder paid over the course of the next 18 months.

Net proceeds from the asset sales will be used to reduce group borrowings.

Barratt has now sold £155million of Wilson Bowden assets since its interim management statement on 18 November.

Barratt acquired Wilson Bowden in April 2007. Wilson Bowden develops property for retail, office and industrial developments throughout the UK.