The English Residential Land Partnership (ERLPl), the joint venture between funds advised by Europa Capital and St Congar Land, has completed the purchase of two new sites in the UK.
The English Residential Land Partnership (ERLPl), the joint venture between funds advised by Europa Capital and St Congar Land, has completed the purchase of two new sites in the UK.
The sites are located at Saunderton near High Wycombe and Bitton, near Bath.
ERLP acquired the Bitton Paper Mill Site in Bitton close to Bath for £3.7 mln (€4.4 mln) from the Stronach Group. The site extends to around 6.9 hectares of which 4.5 hectares were previously used for a variety of industrial uses. The local authority has produced a vision statement for the site which supports the principle of residential-led mixed use on the site.
ERLP has also acquired the former Molins cigarette machinery factory near High Wycombe from e-Shelter for £7 mln, a site of 20.2 hectares of which 10.1 hectares has previously been developed.
The English Residential Land Partnership was created to acquire and promote residential and mixed-use land predominantly across Southern England. It purchases land at various stages in the planning process and will look to further the planning status in order to maximise value. The joint venture owns land with the potential for over 2,000 plots.
Steve Taylor, partner of St Congar Land, said 'The redevelopment of these redundant brownfield sites for residential use accords fully with the principles and aims of the National Planning Policy Framework in promoting the sustainable re-use of previously developed sites.'
ERLP was advised on the purchase by EPS and Bray Fox Smith. Colliers International advised Stronach Group and GVA Grimley advised e-shelter.
