Persimmon tracks city lights

HOUSE builder Persimmon has formed a new subsidiary specialising in developing inner city sites.

The move follows a call to build more homes on brownfield land. Persimmon (City Developments) will be headed by Steve Watt, former managing director of the firm's Thames Valley region.

Mr Watt said: 'As land becomes an increasingly rare commodity we need to look at refurbishing existing areas and the formation of a new company demonstrates our commitment to that. We recognise that developing brownfield sites usually involves greater management time, higher professional costs and specialised building techniques.'

Persimmon chief executive John White said: 'Nationally, we build over 50 per cent of properties on brownfield sites. The figure is far higher in the South, at over 80 per cent. The government recognises that 4.4 million new homes need to be built by 2016 and, as this will inevitably have an impact on land availability in the UK, it is essential that we think ahead.'