Ireland's McInerney Holdings plc, which claims to have pioneered timber frame housing techniques in the south-east in the 1950s, has bought Gateshead housebuilder Bowey Homes Holdings in a £23.6m deal.

“This is an acceleration of our UK expansion plans,” said McInerney managing director Barry O'Connor.

“It significantly increases our area of operation in the north-east of England and has virtually no overlap with our existing operations in the north-east,” he added.

Bowey will operate as part of the McInerney Homes North Eastern region.

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