Urban Splash’s modular housing business has agreed in principle a £130m funding injection from its Japanese investor, Sekisui House, after the modular business had to secure waivers from its lenders for breaches of loan covenants.

The revelation is contained in accounts for year to September 30 for Urban Splash’s modular housing business, which show the business fell to a £12.7m loss on revenue of £10.7m.

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