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Barratt buys developer for £25m

House builder Barratt has bought Guildford-based developer Squire Bridge for £25 million.

Squire Bridge's core assets consist of four development sites in Hampshire and West Sussex which will become part of the Barratt Southampton and KingsOak divisions.

A cash amount of £4.2 million was paid on completion of the sale with the overall amount to be settled on receipt of detailed planning consents.

The largest site at Four Marks will produce 132 homes with the option to add a further 50 on an adjacent site.

Barratt is set to start work immediately on two sites purchased at Alton and Pulborough which have detailed planning consents for 87 units. The fourth site will provide 35 homes in Ashington.

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