case study - gravesend 2015
TRANSCRIPT
Tom LuckDirector
020 8315 5454
Project SummaryGravesend
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Project Address: Land adjacent to Wrotham Road and Coldharbour Road, Gravesend, Kent DA11
Client:Bovis Homes & Persimmon Homes
Project value:C. £70m
Date of Project: July 2015:
Summary: In 2005 we acquired this 43.14 acre / 17.46 hectare site on a joint venture basis for Bovis Homes and Persimmon Homes on a strategic 10 year option from the Colyer-Fergusson Charitable Trust. At the time the option was entered into, the site was protected as an existing green grid site. The site was promoted with the case made over time that the land
should be released for development. This site was not Metropolitan Green Belt and the Green Belt boundary does not begin until the South side of the A2 motorway. This combined with the need for new housing in Gravesham resulted in Gravesham Borough Council, with advice from the Planning Inspectorate and Government, allocating the land for development as part of their New Gravesham Local Plan Core Strategy at the end of 2014. Bovis Homes and Persimmon Homes subsequently submitted a planning application to develop the site for new 400 dwellings with 30% of which being made available for affordable housing. Planning permission was granted in June 2015. Bovis Homes and Persimmon Homes are now in the process of finalising the S106 with Gravesham Council, working up the detailed design and completing the purchase of the land from the Colyer-Fergusson Charitable Trust which should take place at the end of 2015/beginning of 2016. Our New Homes Division are liaising with Bovis and Persimmon Homes and it is anticipated that completed units will be available within the new development towards the end of 2017/2018. We do far more than simply selling and letting commercial properties, and selling investments and development sites. We put together all manner of mixed use and development projects.