A site of more than 100 acres in Kinross has changed ownership as part of a major acquisition by a housebuilder.
Miller Homes has purchased Wallace Land Investments, adding 41 sites to their portfolio, increasing the size of its strategic landbank to 119 sites.
They include 22 in Scotland, including the site in Kinross, and 19 in England and give Miller Homes enough land for about 38,000 new houses.
All nine staff from Wallace will join Miller Homes.
‘A business we have long admired’
Stewart Lynes, chief operating officer of Miller Homes, said: “Land is the lifeblood of our business.
“This acquisition almost doubles the size of our high quality strategic landbank and brings to our business a well-located landbank with strong planning prospects.”
He added: “We are delighted to be acquiring Wallace, a business we have long admired and whose land portfolio and values are highly complementary to our own.
“We are also looking forward to welcoming our new team members from Wallace, who have a strong track record of unlocking asset value.
“This investment demonstrates our confidence in the housing market, which has remained incredibly resilient, and our commitment to the long-term value creation of our business.”
‘This is the right home’
Jason Wallace, owner of Wallace, said: “Over the past 12 years, we have created a highly successful business with a team of exceptional people and one which has been founded on delivering a truly personal service to all we work with.
“We have known the senior team at Miller Homes for a number of years and have great respect for the company and its reputation within the homebuilding industry.
“Importantly, they share our core values of delivering excellence, so we are delighted to become part of their business and are confident this is the right home for Wallace.”