Demand for homes drives Bellway’s land acquisitions

In the last twelve months, house builder, Bellway has added 45 acres to its land bank in Scotland. Sites in Edinburgh, North Lanarkshire, Dalkeith, Glasgow, West Lothian and Motherwell will provide Bellway with the capacity to build more than 400 homes with a development value exceeding £24 million.

The latest acquisition bought in December was the former Motherwell College site where Bellway started construction this month to build 37 terraced and semi-detached homes.

Commenting on Bellway’s acquisitions policy, Regional Managing Director, Andy Wyles said: “Whilst the housing market remains challenging the fact is that there is a demand for more homes which is driving our demand for land.”

In a recent trading update Bellway confirmed that the Group had spent around £105 million on land across the country in the 6 month period to 31st January, and whilst the Group’s net debt at the end of January was around £12 million, the Group still retained facilities of £300 million.

Bellway is due to report its Interim Results on March 27th.