Countryside Properties has acquired Leicester-headquartered partnership builder Westleigh Group in a deal that could be valued at up to £135.4m.
The purchase price, funded from the housebuilder’s existing bank facilities, depends on future growth of the business which has operations across the Midlands and South Yorkshire delivering 1,159 mainly affordable homes in FY 2018.
Westleigh has a land bank of 4,981 plots and overall new business pipeline of 13,000 plots and is “expected to deliver high single-digit accretion to adjusted earnings per share in the first full year of ownership”.
