Construction firm Galliford Try Holdings PLC (LSE:GFRD) has signed a multimillion-pound deal to build hundreds of flats in Cardiff.
Some 272 one and two-bedroom apartments will be built under the £52 million contract, which has been signed with a “major build-to-rent operator”.
This will see the creation of a 30-storey tower block on Cardiff’s Guildford Crescent, close by to the city centre, Galliford said on Tuesday.
“Build to rent is a key area for growth within our business's sustainable growth strategy,” chief executive Bill Hocking said.
“We look forward to creating fantastic new living spaces for the community in Cardiff alongside our partners.”
Alongside the flats, the project will aim to improve the local public area, with retail space set to be provided on the ground floor of the development, Galliford continued.
Hocking added the Guildford Crescent project was the first such scheme the company was launching out “of a number” set to come.