Taylor Wimpey facing additional repairs costs for London block - report
Housebuilder Taylor Wimpey is reportedly covering repair costs for a defective London housing block that are in addition to provisions it has already made for potentially unsafe legacy developments following the Grenfell cladding scandal.
According to Bloomberg, the housebuilder is addressing fire-safety issues and other problems following complaints the development has been faulty since it was built.
A person familiar with the matter said those costs won’t be covered by the £165m that’s already been set aside for safety issues, which only applies to buildings that have become non-compliant since their construction.
A spokesperson for the company told Bloomberg: "We recognise that the work carried out at this development falls below our high standards, for which we sincerely apologise to residents.
"The health and safety of our residents is our first priority and we are committed to undertaking the necessary remedial works at the development at our cost."
The spokesperson declined to give an estimate for the cost of the works.
At 1500 BST, Taylor Wimpey shares were down 2.7% at 167.95p.