Housebuilder Barratt has bought the UK’s best-known land trading firm, Gladman Developments, in a deal worth £250m.

The UK’s largest housebuilder said in a statement the deal would allow it to combine its operations with Gladman’s “excellent land sourcing and promotion capabilities, […] significantly enhancing Barratt’s strategic land credentials.”

Gladman, which made a pre-tax profit of £6.9m on turnover of £29.9m in the covid-hit year to March 2021, has gained a reputation over the last decade for its aggressive promotion of housebuilding sites, often winning permissions on appeal against local authorities.

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