Woodford to sell homes division

The Woodford Group has announced plans to sell its residential development division, Homes by Woodford.

The move follows a decision by the board to focus on the group’s core development business.

Woodford said it was in negotiations with 'a selection of major UK housebuilders' as well as the division’s existing management team, exploring a possible management buyout.

The group said normal operations would continue from the Yarm and Leeds offices until negotiations had been settled.

Homes by Woodford grew out of Clarion Homes, which was bought by the group in 2006. The Yorkshire-based company owns more than 900 land units across the North West and Yorkshire regions.