Bellway Homes has bought a residential development site in Virginia Water with a GDV of £35m from Danescroft for £13m.
Located on Trumps Green Road, bordering the Wentworth Estate, the 4.5-acre site has outline planning consent for 67 new homes – 35% affordable.
Matt Hoad, land director of Bellway Homes South London division, said: “This is an exceptional land acquisition for the Bellway South London Division. The site is located in a sought-after, affluent location within Virginia Water and opportunities of this nature rarely come available. This development provides Bellway with an opportunity to create a landscape-led high quality housing scheme.
“There will be a strong focus on design, materials and providing a high specification for the completed units. We are excited to deliver this scheme through planning and watch it come out of the ground.”
Tim Traynor, a partner in the residential development land team at Knight Frank, which represented Danescroft on the deal, added: “This sale marks a significant disposal for our client Danescroft and represents a fantastic opportunity for Bellway Homes. We are excited to witness the transformation of this land into a thriving community of new residential homes in a well-established location. We remain committed to delivering exceptional value and opportunities to our clients, shaping the future of residential development in the region.”
James Trelfa, managing director of Danescroft, said: “Danescroft are delighted to have worked with Knight Frank to dispose of our interest at Trumps Green Road. The site is in a highly desirable location, and we wish Bellway the best in its delivery. We are actively seeking similar opportunities.”
