LONDON (SHARECAST) - Residential property owner-manager Grainger has announced that it has sold the first phase of its Berewood housing scheme, located west of Waterlooville in South Hampshire, to Bloor Homes which will begin construction next month.
Bloor Homes has bought an 11.2 acre site with planning consent for 194 new homes and an end gross development value of around £35m.
Grainger has obtained planning permission for 2,550 new family homes within the Plant Farm Zone of Berewood, together with supporting social infrastructure, which includes a local community centre, land designated for healthcare and elderly care facilities, as well as two primary schools and a nursery.
The firm said on Friday morning that the sale is "in line with Grainger's strategy for Berewood, the major housing development in Hampshire, which is to sell phases of consented land to housebuilders after first installing infrastructure, such as roads and utilities."
This sale represents the first of thirteen phases at Berewood, which in total comprises 168 developable acres.
"When we first met Bloor Homes they stood out as an organisation which clearly understood the scheme and was very understanding of the long term nature of the Berewood development and how Grainger wants to create a fantastic place to live," said John Beresford, the Development Director at Grainger.
"When they were shortlisted I visited a few of their current schemes and was impressed with the high quality of the developments. I am very excited to see the first homes be created at this wonderful new community."