Bellway Homes has acquired a housing site in Virginia Water for £13 million.
Knight Frank sold the 4.5-acre site, which borders the Wentworth Estate in Trumps Green Road, on behalf of developer Danescroft. It has a gross development value of £35m.
Danescroft won planning consent for developing the land for 67 homes (35 per cent affordable) along with several open spaces.
The former agricultural land is less than a mile from the town centre.
Tim Traynor, partner in the residential development land team at Knight Frank, said: “This sale marks a significant disposal for our client Danescroft and represents a fantastic opportunity for Bellway Homes.
“We are excited to witness the transformation of this land into a thriving community of new residential homes in a well-established location. We remain committed to delivering exceptional value and opportunities to our clients, shaping the future of residential development in the region.”
Matt Hoad, land director of Bellway Homes South London Division, said: “This is an exceptional land acquisition for the Bellway South London Division.
“The site is located in a sought-after, affluent location within Virginia Water and opportunities of this nature rarely come available.
“This development provides Bellway with an opportunity to create a landscape-led high quality housing scheme. There will be a strong focus on design, materials and providing a high specification for the completed units. We are excited to deliver this scheme through planning and watch it come out of the ground.”
Bellway is seeking similar opportunities.
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.