The UK's largest housebuilder,
Taylor Wimpey, is going to sell its portfolio of 350 show homes for around £100m and pay rental income to the buyer for three years, in order to reduce its debt of £1.9bn.
The buyer would acquire a guaranteed three-year income stream from the portfolio, and eventual ownership of the 350 homes, when the housing market may be in recovery.
Chief executive, Peter Redfearn, plans to keep other options to reduce debt in mind, providing they are sensible.
The housebuilder is also willing to dispose of parts of its UK land banks or non-core parts of the business if necessary.
Taylor Wimpey has a value of about £142m, which is down from a high of £4.3bn last year.
The company has reduced costs with 1,900 job cuts and land sales.
