Cazenove, financial adviser to UK building company Alfred McAlpine, is getting a second stab at negotiating the sale of the company's housebuilding business, after discussions with a different buyer ended last year.

McAlpine has said it is in advanced talks with George Wimpey, also based in the UK, to sell its housebuilding activities. While McAlpine's market capitalisation is only about £409m (€663.9m), analysts believe its housebuilding assets alone could be valued at £450m.