Former industrial estate acquired for residential development
Future High Street Living has acquired an 18.49-acre brownfield site in Dudley from major asset manager Sovereign Centros.
The Midlands-based property company plans to rejuvenate the abandoned industrial estate into new homes, aiming to tackle the housing shortage crisis and create jobs.
Sam Ginda, founder and CEO of Future High Street Living, said: “We’re excited to acquire this large brownfield site in such a crucial part of the town which has sat vacant for some years. There is a great opportunity to design a well-balanced housing scheme with a mix of traditional houses ranging from two to four bedrooms alongside one- and two-bedroom apartments.
“We are very committed to the delivery of this scheme and creating a residential community, providing much-needed housing, whilst also contributing to the economic and social rejuvenation of the area.”
Charlotte Bayliss at Deloitte LLP acted for Future High Street Living on the acquisition. Adrian Willet at Furlong Land & Development was the selling agent acting on behalf of the vendor Sovereign Centros.
Willet said: “It was a privilege to work alongside Future High Street Living on this significant acquisition. Their dedication to revitalise and regenerate the Black Country area is evident from successful previous schemes such as Fountain Lane, Oldbury which delivered 250 homes for the Oldbury area, and we are excited to see the impact this project will have in Dudley once the scheme completes.”
