Ashurst advised the majority owners of Countryside Properties (funds advised and managed byr Oaktree Capital Management, L.P.), on the recent acquisition of Millgate Developments, a leading premium housebuilder in the South East of England. Following completion of the acquisition Countryside and Millgate will be merged.

Ashurst advised Oaktree when it acquired Countryside Properties in April 2013.

The deal comes in the wake of UK housebuilders staging a strong comeback as improved mortgage availability boosts demand for homes, and is aimed at expanding the geographic reach and product offering of both groups.

The Ashurst team was led by corporate partner Bruce Hanton, assisted by senior associate Nicola Burke and associate Nerys Evans.