A DEVELOPER is ready to accelerate construction – including in Stretton – after buying a land promotion company.

Miller Homes, one of the UK's leading private home-builders, has announced it has acquired Wallace Land Investments and Management Limited.

It is set to accelerate the expansion of Miller Homes’ strategic landbank and growth to deliver 5,000 homes per annum over the medium term.

One of Wallace Land Investments’ projects is related to green belt land in Stretton.

The company has been ‘promoting’ the land next to the M56, off Stretton Road, Tarporley Road and Spark Hall Close for around 785 homes.

Wallace was founded in 2009 in Edinburgh and over the years, the business has expanded into England with a particular focus on the north west, West Midlands and the south.

The deal will increase Miller Homes’ sizeable strategic landbank by adding a further 41 sites bringing the Group’s total to 119 sites.

As part of the acquisition, staff from Wallace will join the developer to complement the expertise of its existing specialist strategic land team.

Stewart Lynes, chief operating officer of Miller Homes, said: “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.

“Land is the lifeblood of our business and 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.

“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.

“As we emerge from the pandemic, our strong presence in key regional locations combined with our outstanding product and customer service offering means we are well positioned to satisfy ongoing demand for high quality family homes and reach our goal of completing 5,000 homes per annum in the medium term.”

Jason Wallace, Owner of Wallace, has also issued a statement following the deal.

He 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.”