Galliford Try has bought Cornwall-based housebuilder Rosemullion Homes for £200,000

The deal includes nine sites, comprising 24 units under development and a land bank of 132 units.

In its last financial year to 31 December 2008, Rosemullion Homes’ turnover was £7.5m.

Greg Fitzgerald, chief executive of Galliford Try, said: “Rosemullion Homes is an excellent example of an opportunity to acquire a quality local housebuilder in line with our strategy of growing our housebuilding business both in, and adjacent to, our operations across the south of England.”

In September, the company raised £119m in a rights issue to fund its housebuilding expansion plan over the next three years.