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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"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."
-
It’s time to start backing the UK stock marketThe UK stock market has been languishing for decades. But the tide is turning and smart investors should buy in now
-
IFS: Wealthier areas set to pay more council tax under government plansCouncil tax reforms could see households in wealthy areas, including London and the home counties, hit with big bill increases, according to the Institute for Fiscal Studies
