Warwickshire land deal paves the way for hundreds of new homes

DEVELOPER Urban&Civic has secured a new land deal in Warwickshire which could lead to the construction of hundreds of new homes.

The group, which is also behind multi-million-pound plans for the redevelopment of Wolverhampton city centre, has entered into a contract with Crest Nicholson Holdings for a third parcel of infrastructure land at RadioStation Rugby.

The land is jointly owned with Aviva Investors.

Housebuilders Davidsons Homes and Morris Homes are set to develop the site having secured agreements earlier this year.

The 12.5-acre land parcel has consent for up to 205 residential plots and will be developed under licence.

Urban&Civic and Aviva Investors have now contracted on 625 plots across 45 developable acres at Rugby. Crest Nicholson is expected to commence construction in early summer 2017.‎ ‎

In a separate deal announced today, Urban&Civic said it had also exchanged contracts with Invesco for the disposal of a foodstore on the outskirts of Herne Bay, Kent, which has been let but not yet occupied by Sainsbury’s. The sale price represents a £3.3m premium to EPRA value.

Urban&Civic announces its full year results on December 2, 2016.
 

Click here to sign up to receive our new South West business news...
Close