Persimmon Homes South East announced yesterday that it is expanding its business in the region with the acquisition of respected housebuilder Hillreed Homes for £35.7m.
Hillreed Homes, established in 1975, will join Persimmon's current brands Persimmon Homes, Charles Church and Westbury Partnerships to offer homebuyers in the region even more availability and choice of new homes.
In a statement this morning, Mike Farley, Persimmon's group chief executive, said of the acquisition: "Hillreed currently has 10 developments in the region. Nine of these will remain as Hillreed, with one becoming a Charles Church development. The 10 sites join our current nine, expanding the region considerably."
The Hillreed office in Maidstone, Kent, will become the new head office for Persimmon Homes South East, with current Persimmon managing director, Darren Jones, leading the business.
"Hillreed is respected for building high quality family housing," added Farley. "The business has a landbank extending to approximately 3,400 plots, including strong strategic land holdings in the region. Our objective is to use this brand for further growth in the South East region and ultimately deliver more local housing."