Greenhithe

Greenhithe June 2016

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.