Eutopia Homes and Chenavari Investment Managers have acquired a 5.8 acre brownfield development site in Medway, Kent, for an undisclosed price.
The site on Ordnance Road is located in close proximity to Chatham Station and is the sixth transaction the joint venture partners have undertaken.
Scott Hammond, CEO of Eutopia Homes, said: “We are delighted to have closed out this purchase in a challenging market and are excited to be working up proposals for this highly sustainable urban brownfield site. We will be working with Darling Associates Architects to develop a vision for the site that continues the regeneration already underway in the Medway Towns.”
Cristian Postans, head of real estate at Chenavari Investment Managers, added: “Our appetite to invest in the residential sector remains strong where the demand supply in-balance is particularly evident in regions such as the Southeast of England. Eutopia Homes continue to demonstrate a great vision for the development of complex sites in great locations and we are pleased to be investing with them again”.
