BXB Cowley Hill has sold a 12-acre plot with consent for 200 homes at its Cowley Hill site in St Helens to affordable housing providing Torus for an undisclosed sum.
The joint venture between developer Promenade Estates and brownfield land specialist BXB, owns three further plots at the site, capable of delivering circa 900 new homes.
Gary Goodman, land and planning director at BXB, said: “The commencement of the enabling works for phase one, which will be completed shortly, was key in securing an end user for this plot. The team’s focus will now turn to securing detailed planning permission for the site’s new spine road and then delivering its construction along with the associated infrastructure.
“From there, we plan to commence the site enabling works for phases two, three and four to facilitate their onward sale over the medium term. Given current market conditions and the end user build out rates, it’s likely to be more than five years before the site is delivered in full. We’re already in discussion with the market around its medium-term needs and to ensure that the phases we deliver meet house-builders’ technical requirements.”
Daniel Hynd, managing director of Promenade Estates, said: “Regenerating brownfield land is a much more sustainable way of delivering on the nation’s housing needs and we’re delighted that, once again, we have demonstrated our ability to transform a tricky site for housing use. We remain on the lookout for similar large-scale opportunities and will bring the same expertise and foresight to bear when we find them.”
Chris Bowen, managing director of Torus Developments, said: “Torus has big ambitions for this section of the Cowley Hill site, which will see us create a modern, energy efficient, affordable development that showcases, at scale, our ongoing commitment to investing in St Helens. As it stands, Cowley Hill is the biggest site we have ever entered into an agreement on in St Helens and I’m thrilled to have taken this first step in redeveloping Cowley Hill.
“This is the first partnership of many that will completely transform the area and Torus is excited to be at the forefront of a new era for Cowley Hill. We intend to develop this site alongside other new homes which we will build close to the site where we are currently demolishing poor condition, obsolete stock.”
The joint venture partners intend to retain the commercial element of the consent, which will be delivered once the housing sites have been sold. Bermans and Hill Dickinson acted on behalf of BXB Cowley Hill alongside Northern Land Agency. Primus Law acted for Torus.
