Persimmon expands with Hillreed acquisition
15 November 2012
Persimmon Homes South East is continuing to expand its business with the acquisition of the respected housebuilder Hillreed HomesHillreed, established in 1975, will join Persimmon’s current brands Persimmon Homes, Charles Church, and Westbury Partnerships, to offer the buyers in the region even more availability and choice.
Persimmon purchased Hillreed for £35.7million.
Nigel Greenaway, Persimmon’s south division chief executive officer, said of the acquisition: “Hillreed has a number of developments in prime locations, which will continue to offer premium new build family homes alongside our Charles Church and Persimmon Homes developments.”
Persimmon Homes South East will be headquartered in the heart of its operating region in Maidstone, headed by Darren Jones, managing director.
Hillreed was the leading privately owned housebuilder in Kent, Sussex, and the broader South East. The business has a land bank extending to approximately 3,400 plots including strong strategic land holdings in the region.
Concluding, Nigel said: “Our objective is to use the brand for further growth in the South East region and ultimately deliver more local quality homes.”