<p><span>Barratt has acquired land promoter Gladman Developments for £250 million, with the purchase expected to deliver an incremental 500 completions per year for the volume housebuilder from 2025.</span></p> <p><span>The firm has acquired Gladman for a total cash consideration of £250 million on a debt free and cash free basis. Barratt said the transaction combined its “best-in-class” housebuilding operations with Gladman’s “excellent land sourcing and promotion capabilities, providing greater flexibility for land owners and significantly enhancing Barratt’s strategic land credentials”.</span></p><p></p> <p><span>UK land promoter Gladman, which has “particular strength” in southern England, achieved a pre-tax profit of £6.9 million for the year ending March 31 2021 and gross assets of £212.3 million.</span></p> <p><span>During the same period, it secured planning consent on 2,760 plots across 15 sites. It secured </span><span>sales of 2,796 plots on 18 sites to housebuilders and housing associations.</span></p><p></p> <p><span>Gladman will join the housebuilding group as a standalone business, with chairman David Gladman and ceo Victoria Hesson leading the company. It will continue to supply land to third parties while offering Barratt another source of strategic land and helping promote the housebuilder’s existing strategic land portfolio.</span></p><p></p> <p><span>Barratt is aiming to deliver 20,000 new homes in the medium term. Gladman’s existing portfolio, …