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Miller swoops for Fairclough Homes

Miller has catapulted itself into the top ten of the UK's largest house builders with the acquisition of Fairclough Homes for £264 million.
Edinburgh-based Miller is already the UK's largest privately-owned housebuilding, property development and construction firm. It has bought the company from Centex Corporation, who are listed on the New York Stock Exchange.

The combined company will lift annual housing completions of over 4,000 units and will raise housing and group turnover to around £700 million and £1.1 billion respectively.

Miller Homes chief executive Tim Hough said: 'It gives Miller critical mass in four key operating regions in England, outside of its well-established operations in Scotland - in the north-west, Yorkshire, west Midlands and the south.'

The move also allows Miller to create its ninth housing operation in St Albans - covering the northern Home Counties - ahead of schedule.

The acquisition increases Miller's landbank by 6,493 plots and provides a combined landbank of 16,943 plots which equates to four years supply at current consumption levels.

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