Countryside has announced it will actively seek and evaluate takeover bids, after its board bowed to pressure from key shareholders to put the business up for sale.

The £600m-turnover housebuilder last month announced it had rebuffed two ‘unsolicited’ approaches from San Francisco-based ESG investor Inclusive Capital, who wanted to discuss a possible £1.5bn offer to take over the business and take it private. This was rebuffed by Countryside’s board, who believe the business is worth more, leading to key shareholder Browning West calling on the firm to start a sale process.