Countryside has announced it is winding down its direct housebuilding arm to focus on place making and regeneration through its partnerships business.

The Essex-based housebuilder told the stock market today it has decided to focus all of its resources on its partnerships business, which works with housing associations, public bodies and institutional private rental operators to deliver mixed-tenure regeneration schemes.

Land and developments that do not fit the partnerships strategy and are not subject to existing commitments will be sold off.

This means that the house building business, which in the six months to March generated revenue of £265m, will be wound down.