Skanska purchases second residential development site in Cambridge, UK

10/11/2011 8:30 AM CET
Press release

Skanska has completed the purchase of its second residential development site at Great Kneighton in Cambridge, UK. The site extends to around 12 acres and has outline planning permission for up to 310 properties covering both houses and apartments.

In the next stage, Skanska will submit details to obtain detailed planning permission for its new homes on this second site. It is anticipated that the detailed planning application will be submitted during the first half of 2012 with construction planned to start later that year.

In January, Skanska purchased its first development site at Great Kneighton, which extends to around 6.5 acres. Skanska has now received full planning consent for this residential development scheme, covering 128 properties including both houses and apartments. Construction is due to start in the fourth quarter of this year.

Skanska UK reported revenues of SEK 14 billion in 2010, with about 4,500 employees. The company is active in building and civil construction, utilities and building services. In the UK Skanska is also a leader within the sector for Public Private Partnerships, PPP, also known as Privately Financed Initiative, PFI. Skanska has also initiated the development of homes for the UK market.