5 April 2022
Taylor Wimpey plc
Fire Safety Pledge
Pete Redfern, Chief Executive, said:
"Today we confirm that Taylor Wimpey has signed up to the Government's fire safety Pledge for Developers. Our priority has been to ensure that customers in Taylor Wimpey buildings have a solution to cladding remediation. We took early and proactive action, committing significant funding and resources to address fire safety and cladding issues on all Taylor Wimpey affected apartment buildings."
Background and additional commitments
Taylor Wimpey has contributed constructively to Government discussions on fire safety, both individually and through the Home Builders Federation (HBF).
The existing Taylor Wimpey provisions commit funding to bring all affected apartment buildings over 11 metres that we have completed in the last 20 years (from January 2021) up to current EWS1 standard, irrespective of legal ownership.
The Pledge now further extends the period to 30 years, covering all buildings constructed by Taylor Wimpey since 1992.
In addition, and aligned with the Pledge, we will reimburse any funds allocated or used for Taylor Wimpey buildings over 18 metres from the Building Safety Fund, being the fund that the sector already contributes to via the Residential Property Developer Tax.
We estimate that these additional commitments will result in a further provision of c.£80 million for Taylor Wimpey, bringing the total amounts we have provided for fire safety remediation works to c.£245 million.
We will continue to work with building owners, management companies and leaseholders and remain committed to resolving these issues as soon as possible for our customers. We will maintain a constructive dialogue with Government aimed at achieving a satisfactory resolution to remaining fire safety issues. We continue to believe this is an industry-wide issue involving many types of organisations and therefore needs an industry-wide solution.
-Ends-
For further information please contact:
Taylor Wimpey plc Tel: +44 (0) 1494 885656
Pete Redfern, CEO
Chris Carney, Group Finance Director
Debbie Archibald, Investor Relations
Andrew McGeary, Investor Relations
Finsbury TaylorWimpey@Finsbury.com
Faeth Birch
Anjali Unnikrishnan
James Gray
Notes to editors:
Taylor Wimpey plc is a customer-focused homebuilder operating at a local level from 23 regional businesses across the UK. We also have operations in Spain.
For further information please visit the Group's website: www.taylorwimpey.co.uk/corporate
Follow us on Twitter @TaylorWimpeyplc
For enquiries from building owners and management companies relating to specific buildings, please contact cladding@taylorwimpey.com
Leaseholders should continue to contact their management companies with any enquiries.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
