Persimmon makes £75 million cladding provision

Persimmon says it has made a provision of £75 million in its 2020 results to pay for its contribution to any necessary work on 26 buildings that may be affected by the cladding issue, in which materials were used which met regulations at the time but may now be considered unsafe and require removal.

The firm 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 says it does not own any of these buildings and the legal responsibility and duty to ensure the building is safe rests with the current owners. The firm says it will provide technical support to ensure the building is made safe. But, if a building owner fails to accept their responsibilities, Persimmon “stands ready to provide the support necessary to make sure the work is done”.

Persimmon adds: “For buildings below 18 metres in height the government has recommended a risk-based approach. The group has identified 17 buildings below 18 metres that may be fitted with cladding requiring detailed investigation. Where Persimmon owns the building it will, of course, lead this work. Where the group no longer owns the building, it …