Wilson Bowden subsidiary David Wilson Homes has acquired Frenchay Developments for 拢24m.
Frenchay is a special-purpose vehicle set up by several families who owned a 25-acre site next to the M4 corridor to the east of Bristol.

The total value of the land acquired is 拢32m but 拢8m has been taken off as Wilson Bowden has to shoulder tax liabilities.

The purchase is part of Wilson Bowden鈥檚 land acquisition policy for this year.

Chief executive of Wilson Bowden Ian Robertson said: 鈥淭his is a landbank acquisition as far as we are concerned. The site has already got outline planning permission and we would expect to get about 500 units from the site.鈥�

This is the second time this year that Wilson Bowden has bought a company for its landbank. In April it bought Henry Boot鈥檚 housebuilding arm for 拢47.8m.

Henry Boot Homes came with a landbank of 1792 plots, most with planning permission. In total, the company intends to spend 拢400m on land this year.