Land destined for new homes is sold to property developer
Yorkshire development company, Gregory Properties, has sold a residential development plot in Bradford to One Heritage Group PLC for £1m.
The site on Victoria Road, Eccleshill has planning consent for 24 new houses next to the sold-out Hutton Hall scheme which joint venture partnership, Gregory Robinson completed last year.
The sale is part of a strategic move by Gregory Properties as it looks to pursue opportunities, with funding partners, in the Build to Rent (BTR) sector.
In recent years Gregory has delivered cluster developments in Eccleshill, Dacre Banks, Monk Fryston, Pudsey and Menston, as well as The Refinery, a 407-bed student scheme in Leeds city centre.
Gregory Properties has also formed alliances with housing associations as well as a number of property institutional funders through its commercial ventures.
It is now actively seeking new development sites across Yorkshire where it can deliver BTR schemes with its investment partners and operators.
John McGhee, group and residential director at the business, said: “The Group has been active in property development for over 30 years and has a long-standing track record in developing challenging sites that are no longer fit for purpose and delivering solutions that work with local policy and the environment.
“The robust income and strong rental growth in BTR continues to attract considerable institutional investment and our considerable understanding of local authority cultural and community aspirations makes us a prime delivery partner for large fund partners.”
