Taylor Wimpey has acquired Ipsley House in Redditch from Rainier Developments for an undisclosed price.
The 4.51-acre site, which includes the former circa 70,000 sq ft office building, has outline planning consent for the demolition of the building and the development of up to 70 residential dwellings.
Taylor Wimpey is currently preparing a reserved matters application for the development.
Joe Blincoe, land and planning director at Taylor Wimpey Midlands, said: “We are delighted to have completed the purchase of this site in Redditch. The development will provide much-needed new homes in the area and we look forward to progressing with our reserved matters application in the months ahead.”
Will Blacker, land director at Rainier Developments, added: “This has been a great project for us, following our unconditional purchase last year we have worked closely with Redditch Borough Council to bring forward this brownfield site gaining a planning consent in November. Taylor Wimpey were chosen as the perfect partner to build on our vision for the site. We look forward to working with Knight Frank and Taylor Wimpey again in the future.”
Charlie Steele, associate in Knight Frank’s residential development land team, which acted for Rainier on the sale, said: “This transaction demonstrates the continued demand for well-located residential development opportunities in the West Midlands, particularly those with planning consent already in place. We are thrilled to get this transaction over the line on behalf of Rainier and look forward to seeing Taylor Wimpey bring the site forward, to deliver much needed additional housing stock to the area.”
