Development land in Central London

Taylor Wimpey has confirmed that it has exchanged contracts on the purchase of development land, in Central London, from the Royal Mail, for a total cash consideration of £190 million.  The acquired land represents part of the Mount Pleasant estate, some of which will be retained by Royal Mail.  The development represents a compelling multi-year development opportunity in a high-quality location.

The acquisition meets all the Group’s key investment criteria, including an attractive return on capital given the phasing of capital deployment.