<p><span>Miller Homes has acquired strategic land promotion company Wallace Land Investments and Management, accelerating the housebuilder’s journey towards achieving 5,000 homes per annum in the medium term, it said today (May 20).</span><br/></p> <p><span>The acquisition will add a further 41 sites to Miller’s strategic landbank, bringing the total to 119 sites. Meanwhile, its total number of plots will rise from around 20,500 plots to 38,000. </span></p><p><span>The housebuilder said that the “geographic distribution” of Wallace’s landbank, split between Scotland and England, complemented its own geographic presence.</span></p> <p><span>With the portfolio expected to deliver a significant number of consented units, Miller anticipates “significant value creation” in the present and future.</span></p> <p><span>Wallace was established in 2009 in Edinburgh, expanding into England with a focus on the North West, West Midlands and the South. Miller said Wallace had developed a strong track record in the delivery and promotion of strategic land, also delivering “positive outcomes” for local communities.</span></p> <p><span>Under the acquisition, Wallace’s staff will join Miller’s strategic land team.</span></p> <p><span>Stewart Lynes, Miller’s chief operating officer, said: "We are delighted to be acquiring Wallace, a business we have long admired and whose land portfolio and values are highly complementary to our own. </span></p><p><span>"Land is the lifeblood of …