Greenhithe, Kent, UK - Sold Out

SALE TO DEVELOPER CONCLUDED

SJ Capital is pleased to confirm that the "Reserve Matters" application made by the buyer, Fernham Homes, was approved on 21 March 2016. This concludes the last critical suspensive condition of the sale agreement. We are in the process of finalizing the transfer documents where after the sale will be finalized.

SJ Capital Group is proud to announce the launch of their new exciting UK strategic land investment site.

The Strategic Development Area lies within the Dartford district of Kent. The site consists of a small bowling green and pavilion that is still in use, a large area of overgrown redundant car parking and a derelict football club pavilion and pitch that was formerly the privately owned Sports Ground but which has not been used for several years.

The site lies within a predominantly residential area characterised by two storey terraced housing. An existing large recreational ground with children's play equipment and formal sports pitch lies immediately to the north of the site.

It is in close proximity to the M25 Motorway which encircles the Greater London area, and is only 3.8 miles to the Dartford Crossing. Ebbsfleet International Railway Station is located less than 3 miles away and serves the area with four trains per hour to London's St Pancras International in addition to daily Eurostar services to Paris and Brussels.

Bursledon, Southampton, UK Bursledon, Southampton, UK Bursledon, Southampton. UL

PLANNING REPORT

We are pleased to confirm that, following on from the successful application for Planning Permission on our Greenhithe, Dartford site, the sale of the site in its entirety to local developers, Fernham Homes has been successfully concluded.

The above is particularly pleasing given the lengthy challenges that the local council raised in objection to the approval culminating in the Supreme Court of Appeal eventually rejecting their application for their case to be heard. We believe that this adds further credence to the solidity of all our sites developmental potential as well as illustrating our ongoing commitment to deliver on our contractual obligations and desire to benefit from the retained interest we have in all our sites.

A purchase price of £2m was agreed to between ourselves and Fernham Homes and the site was exchanged in late April this year. This resulted in a £250 per sqm return being delivered to investors which was in line with the projected returns being advertised on marketing the site.

Fernham Homes will now develop the site to its full residential potential and further information regarding this can be found on their website:
http://www.fernham-homes.co.uk/developments/empire-park

Please do not hesitate to contact your consultant or us directly should you wish to receive further information on the above.