Housebuilder Bellway spent £71m on land for new properties in the three months to November.
The firm spent the money to acquire 1,400 development plots, resulting in net debt of £17m.
Bellway’s order book stood at £458m in the quarter, compared to £440m in the same period last year.
In its interim management statement today, the company also said it had renewed a £150m bilateral banking facility with Lloyds Bank Corporate Markets.
Bellway now has combined facilities of £300m extending in tranches up to November 2016.
joanna.bourke@estatesgazette.com
