Croydon council is set to reject an offer by Urban Splash to buy its troubled housebuilding company, Brick By Brick, despite concluding it represents good value.

A report published late yesterday for the council’s scrutiny committee said the council was intending to reject the offer for Brick By Brick – which it confirmed for the first time was from regen developer Urban Splash – and instead build out more of Brick By Brick’s programme itself, before winding the business down.

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