LONDON (dpa-AFX) - House builder Persimmon (PSN.L) said it has made a provision of 75 million pounds in its 2020 results to pay for its contribution to any necessary work on 26 buildings that may be affected by cladding safety issues. Cladding materials are now considered as unsafe and required to be removed.
It is expected that on Wednesday the U.K government will announce further funding towards the cost of removing unsafe cladding materials on buildings.
Thousands of flat owners are facing huge bills for fire-safety improvements, in the wake of the Grenfell Tower disaster in 2017, which saw a high-rise residential building catch fire, killing 72 people.
The U.K government reportedly announced 1.6 billion pounds building safety fund in 2020.
Meanwhile, Persimmon said it has identified 9 high-rise buildings over 18 metres built by the Group where, in-line with government guidance, cladding may need to be removed.
Persimmon does not own any of these buildings and the legal responsibility and duty to ensure the building is safe rests with the current owners.
Persimmon said it will provide technical support to ensure the building is made safe. However, if a building owner fails to step up and accept their responsibilities, Persimmon stands ready to provide the support necessary to make sure the work is done.
The company said it has identified 17 buildings below 18 metres that may be fitted with cladding requiring detailed investigation.
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