Fiera Real Estate and Danescroft have sold a 4.5-acre site with outline planning permission for 67 new homes on Trumps Green Road, Virginia Water, to Bellway Homes for £13m.
Fiera purchased the site unconditionally in 2021 on behalf of Fiera Real Estate Opportunity Fund V UK. The consented scheme will include 23 new affordable homes.
James Trelfa, managing director of Danescroft, said: “We are pleased to crystallise this exit in our interest at Trumps Green Road. The site is located in a highly desirable location and will provide a balanced mix of family homes for the local market. We are actively seeking similar opportunities to acquire on an unconditional basis”.
Chris Button, head of investment management at Fiera Real Estate, added: “Alongside Danescroft, we are delighted to have completed on the sale of this site which will be providing much needed housing to the local area and has been designed to meet the local council’s housing needs.
“The sale has generated excellent returns for the fund and our investors. We are launching a new residential land strategy in Q4 and we have significant funds available to invest in similar sites in the UK with the potential for future residential use, so please get in touch.”
