Housebuilder Riverdale Developments has bought a 26-acre Inexperienced Belt web site in Sunbury, Spelthorne borough, Surrey from Wates Developments.
The positioning has a gross improvement worth of £30m, whereas Knight Frank organized the sale.
With a protracted planning historical past, the positioning has detailed permission for 38 further care and 28 shut care models, in addition to define planning for 98 further care models and a care house with as much as 60 beds.
Nick Laugharne, operations director in land & residential funding at Wates Group, mentioned: “We’re delighted to have accomplished this sale to Riverdale Developments, who share our dedication to award-winning properties and communities.
“This sale is a superb end result for the enterprise and demonstrates as soon as once more how we’re capable of adapt our technique to generate a powerful end result for the enterprise.
“We’d wish to thank Riverdale Developments and Pyxis Land for his or her velocity and professionalism in getting this over the road and need them the perfect of luck with their utility”
In accordance with Knight Frank, there’s additional potential for the positioning to change into a residential-led housing scheme of greater than 100 models, topic to reaching planning consent.
Nick Alderman, head of central London land company at Knight Frank, mentioned: “It was a pleasure to facilitate the sale of this necessary web site.
“Latest coverage adjustments designed to ease planning on ‘Gray Belt’ websites has helped to spice up improvement alternatives.
“Larger London’s housing supply is considerably behind goal, so it’s nice to know our recommendation and the success of this transaction will make a constructive contribution to addressing this scarcity.
“We want Riverdale Developments each success with their enterprise and sit up for seeing the event progress.”
