Hillreed Homes sold for £35m
Hillreed Homes, the long-established housebuilder, has been sold
Founded by Tony Hillier and Colin Creed in 1975, the the
well-regarded Maidstone-based company is now owned by Persimmon,
the UK’s largest housebuilder.
Hillreed has earned a good reputation as a designer and builder
of high-quality family homes across Kent, Sussex, Surrey and
The sale was prompted by the directors’ retirement plans, though
Hillier and Creed continue to have an active commercial property
portfolio in the region.
Hillreed was also attractive to Persimmon for its strategic land
holdings and a land bank of 3,400 plots.
Joint majority shareholder Tony Hillier, the former company
chairman, said it would be “business as usual” for the foreseeable
future “With the exception of the former majority shareholders –
myself and Colin Creed – the senior management team and all staff
remain in place to develop high quality family homes.
Persimmon recognised that Hillreed offered the same quality
properties as its established brands such as Charles Church and
Westbury, so the new ownership is a good fit.”
Mike Farley, group chief executive of Persimmon, said: “The
Hillreed name and brand is very complementary to our existing
portfolio; this acquisition strengthens our position in the south
east and demonstrates our commitment to continued land investment
to support our growth strategy.”
Hillreed was advised by asb law, the Maidstone-based law firm,
Reeves, the accounting and business advisory services practice in
Canterbury and Chatham Maritime, KPMG and UHY Hacker Young.
- Click here for more news from across the county...