Springfield Properties has bought rival housebuilder Tulloch Homes for £56.4 million as it seeks to tap into high market demand for properties in the Highlands.

Springfield, a listed house builder which reported turnover of £216m for the year to 31 May and pre-tax profit of £18.5m, believes the move will accelerate growth, increase its foothold in the Highlands, strengthen its private land bank and improve its supply chain.