In a strategic manoeuvre to bolster its core estate of arches and former railway properties, Travis Perkins plc has successfully brokered a deal involving the sale of its Selsdon site. The proceeds from this sale are earmarked for the ambitious Project 1000, a £200 million initiative aimed at revitalising a thousand vacant and derelict spaces by the close of this decade.

The Selsdon site’s construction area holds a flexible layout, making it a snug fit for the diverse portfolio of the Travis Perkins Group. The group, known for its general merchant Travis Perkins, also houses Toolstation along with specialist building materials distributors BSS, Keyline, and CCF. This alignment can potentially expedite the process of adapting the site to suit the group’s varied operational needs.

Travis Perkins plc’s prudent estate management has not only seen its property portfolio’s market value soar to approximately £1.1 billion, but also witnessed a remarkable growth of nearly £600 million since 2010. Over this period, active portfolio management has yielded net proceeds surpassing £100 million post-reinvestment, alongside profits exceeding £300 million.

With this sale, Travis Perkins plc underscores its unwavering commitment towards injecting new life into neglected spaces through Project 1000. As it channels the sale’s proceeds towards this venture, the group takes a significant stride towards accomplishing its target by 2030, further cementing its position as a proactive player in the realm of property development and management.