Croydon council-owned housing developer Brick By Brick is to be put into a “managed wind-down” unless a sale to a third party can be agreed.

According to council papers published yesterday in advance of a meeting of Croydon’s scrutiny and overview committee meeting today, Brick By Brick has had discussions with one potential bidder for the business. If that failes, the recommendation of council officers is that the firm be instructed to build out homes currently under construction and sell the remaining sites in its pipeline, before being wound down.