Taylor Wimpey to replace Glasgow Harbour cladding as part of £30m ‘moral’ provision

The Glasgow Harbour site which contains the Taylor Wimpey flats

Housebuilder Taylor Wimpey has set aside £30 million to replace unsafe cladding installed on its developments, including flats at Glasgow Harbour.

Announcing its half year results, the company said the decision to replace the aluminium composite material (ACM) cladding was “morally right”.

The move follows a detailed review of its developments in the aftermath of the Grenfell Tower disaster.

Most of the provision will go to the Glasgow Harbour development, with Taylor Wimpey saying its particular circumstances mean “funding the replacement is the right course of action”.

The housebuilder agreed in May to cover the re-cladding bill for the 300-home development. Residents at Glasgow Harbour had been facing additional service charges of £30,000 per household to take down the cladding.

The company said: “We have taken this decision for buildings constructed recently because we believe that it is morally right, not because it is legally required.

“Our primary goal in doing this is seeking to ensure that any work is undertaken properly and promptly, but also to ensure that customers are not impacted by bills that are significantly greater than normal maintenance.”

Taylor Wimpey’s first-half results showed 579 home completions for the period for Scotland and an average selling price for the first six months of this year of £223,000, against £212,000 for the same period of 2017.

The company announced pre-tax profits of £301 million, a 47% rise on last year’s £205m.

Pete Redfern, Taylor Wimpey chief executive, said: “As employment prospects remain positive and mortgage availability is good, customer demand for our homes has been strong in spite of some wider macroeconomic uncertainty. With a strong order book in place, we are confident in our prospects for the remainder of the year and looking further ahead.”

Mr Redfern added: “We remain on track to deliver the board’s expectations for 2018.”

Taylor Wimpey said it is due to deliver546 new homes at Benthall Farm in East Kilbride by 2025.

It represents a £70m investment over nine years, with the delivery of 25% affordable housing that will be met with 62 affordable homes being built by South Lanarkshire Council on 4.2 net developable acres provided by Taylor Wimpey, which also provides the equivalent provision of contributions for 60 off-site affordable homes.

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