London-focused build to rent housebuilder Telford Homes has fallen to a £193m pre-tax loss compounded by building safety write-downs and losses on its conversion of the Grade-II* listed Balfron Tower in east London.

The CBRE-owned housebuilder said turnover in the 2022 calendar year increased by 5% to £296m, but that it nevertheless fell to an £18.4m pre-tax loss, even prior to the impact of exceptional items. This compared to a £7.8m pre-exceptional profit in 2021.

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