Housebuilder looks to consolidate in the north of England

Bovis Homes has bought rival Elite Homes for £25.7m to expand its business in the north of England.

The housebuilder said the acquisition would add 800 plots to its land holdings that have building consent.

Malcolm Harris, Bovis chief executive, said: "This acquisition represents a good opportunity for Bovis Homes to consolidate its presence in the north of England, developing its position in this important market as part of its longer term regional expansion plans.”

Bovis will also assume £46.2m of debt through the deal.