Redrow will remobilise its construction sites from 11 May, with a phased return to construction on 18 May, as it introduces robust social distancing protocols
Housebuilder Redrow closed its sites on 27 March and made the decision not to reopen until it was safe to return to work and it could rely upon a functioning supply chain.
Since then, the government has made it clear they would like to see construction sites operating provided they can do so safely with stringent social distancing measures in place.
Redrow is now satisfied these conditions can be met over the next two weeks and therefore intends to commence mobilising sites week commencing 11 May with a phased return to construction on 18 May. Mobilisation will include putting robust social distancing protocols and physical measures in place.
Covid site supervisors
Redrow has developed rigorous social distancing protocols that will be supported by strict arrangements to ensure they are consistently applied. In particular, it will have an e-learning module for all Redrow employees, induction videos for contractors, appointed Covid supervisors for each site and enhanced signage and PPE.
Additionally, the IT systems will allow Redrow to communicate remotely with its contractors and customers. The tablet-based quality management system records and monitors work and directly notifies contractors of any issues that need to be addressed.
Balance sheet
In the month of April, the business generated £62m of cash from legal completions. In addition, as part of the measures to protect its cash flow, a number of land payments have been deferred into 2021 and later.
As a result, net debt at the end of June is now expected to be £200m. Redrow has recently extended its Revolving Credit Facility to £350m and has been accepted as an issuer under the government’s CCFF with an issuer limit of £300m.
John Tutte, executive chairman of Redrow, said: “The safety and welfare of our workforce and customers is our main priority.
“I am grateful to my colleagues and our supply chain partners for the exceptional work they continue to undertake to ensure we can make a measured, responsible and safe return to work next month.”
