Galliford Try has predicted more takeovers in housebuilding as smaller firms sell up before fresh taxation rules come into force. Frank Nelson, the company's financial director, was speaking as it continued its march north with the £9.3m acquisition of Kendall Cross in Newcastle upon Tyne. Nelson said: "We are seeing huge opportunities. A combination of the tough housing market and the changes to Capital Gains Tax (CGT) have opened things up a lot. "This deal was not activated by the tax issue as we had been talking for months but there are certainly a lot more opportunities coming across our desk in terms of acquisitions and that is being driven mostly by the changes to the tax regime."
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