Housebuilder announces 拢25m swoop for firm with operations in Dumfries, Lockerbie and Cumbria.
Housebuilder Persimmon has bought Carlisle-based Senator Homes for 拢25m, it announced today.
Persimmon paid 拢14.8m cash for Senator Homes, together with an assumed debt of 拢10.2m. Senator has operations in Dumfries, Lockerbie and Cumbria, and will further strengthen Persimmon鈥檚 presence in the regions.
John White, Persimmon chief executive, said: 鈥淧ersimmon is very pleased to be buying Senator Homes. The company has an attractive landbank, which complements the enlarged Persimmon Group鈥檚 regional presence.鈥�
In 2004, Senator Homes legally completed 211 homes with an average selling price of 拢150,000. Senator Homes' landbank extends to approximately 800 plots, of which 500 are in Cumbria and 300 are in Dumfries and Lockerbie. In addition, Senator Homes owns approximately 80 acres of strategic land and has options to acquire a further 340 acres.
