Persimmon buys family home builder

House builder Persimmon said it had bought South East England builder Hillreed Homes for 35.7 million pounds.

Hillreed, which is based in Kent and established in 1975, focuses on family housing and has a landbank extending to approximately 3,400 plots, including strong strategic land holdings, Persimmon said.

Group Chief Executive Mike Farley said Hillreed's focus on high quality family housing complemented his firm's existing Persimmon, Charles Church and Westbury Partnerships brands.

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"Its attractive landbank adds to our already strong regional business in the important south east market," he said.

"The acquisition of Hillreed demonstrates our commitment to continued land investment in support of Persimmon's growth strategy."