Taylor Wimpey has ended months of speculation by putting its £600m turnover construction arm up for sale. The struggling housebuilder is understood to be selling the business as part of its drive to pay down its £1.7bn of debt.

Taylor Wimpey could get up to £150m for the Taylor Woodrow business, according to a report in today’s edition of Building magazine. However, the sale could be complicated by a deficit within the construction arm’s pension scheme.

Daily Telegraph