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Berkeley targets 10 per cent land bank growth

Housebuilder Berkeley Group has announced an intention to increase its land bank by ten per cent in 2013, as it unveils the acquisition of three new sites in London and the South East.

The three sites – in Finchley, Mill Hill, and Maidenhead, follow the granting of planning permission to eight sites, including Hampton House on the Albert Embankment and Sovereign Court in Hammersmith.

Berkeley said they remain on course to return £568m to shareholders by September 2015.

The firm added that the market for new housing in London and the South East was “still characterized by a shortage of supply at all price levels.”

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