Springfield Properties to acquire Walker Group for £31m.

Springfield Properties, a leading housebuilder in Scotland offering private and affordable housing, acquired the entire issued share capital of Walker Holdings (Scotland) (trading as Walker Group) , a Livingston-based housebuilder focused on private housing in Edinburgh's commuter belt, for a net consideration of up to £31m. The net consideration of the Acquisition is to be funded from Springfield's existing cash balances and borrowing facilities with Bank of Scotland. Sandy Adam, Executive Chairman of Springfield, said: "The acquisition of Walker supports Springfield's growth aspirations with land and skilled employees. It enables us to deliver housing more widely across Scotland at a time when supply continues to fall well short of demand and average house price growth in Scotland is ahead of the rest of the UK. Interest rates are low, mortgage availability is good, barriers to new entrants are high and Springfield is well positioned to benefit."