Housebuilder Redrow is selling its Scottish business as it seeks to increase its presence in regions around London and south-east England, Financial Times reports. The company put up its Scottish housebuilding arm, which has assets worth £60 million, for sale as the loss-making division did not generate acceptable returns. The business had a turnover of £31 million and 185 completions in 2010, adds Reuters. The company, whose net debt rose to £80 million, acquired residential developments in Hyde Park and Kingston in London, earlier in 2011.

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