Barratt Developments, the housebuilder, is seeking partners for a joint venture to invest in its strategic land bank.

The move is one of a series of possible measures to help reduce its £1.65bn debt burden as Barratt suffers from a bruising downturn in the housing market. A person familiar with the situation said the company was eyeing the joint venture as a “very preliminary” plan, along with a number of other actions to rebuild the company’s balance sheet. Barratt declined to comment.