Galliard Homes has acquired three key London commuter sites for £265m of residential development.
The deals for sites in Redbridge, Ipswich and Milton Keynes follow a successful period last year when Galliard sold out schemes with a combined development value in excess of £800m.
In the biggest deal, Galliard has acquired ‘The Point’, a former entertainment complex located on Midsummer Boulevard in Milton Keynes.
Working with joint venture partner DS Real Estate, Galliard is looking at bringing forward a £150m scheme of new homes as well as ground-floor commercial units or leisure amenities.
A planning application is now due to be submitted later this year.
In Redbridge, Galliard has acquired a former hotel and restaurant on Redbridge Lane East in Ilford. It has potential for a £65m mixed-use development of new homes and ground-floor retail space. A planning application will also be submitted later this year to the East London Borough.
The third site on Grafton Way in Ipswich has existing planning consent for 173 houses, alongside two commercial units, communal gardens and extensive public landscaping.
The £50m residential-led scheme will overlooks the River Orwell, with the new homes set to play an integral part in the wider regeneration of Ipswich town centre. Works are due to start later this year.
David Galman, Sales Director at Galliard Homes, said: “The last year was very successful for Galliard, we sold out at several key schemes across London and the South West, and we were able to help buyers find their dream homes despite the challenges facing the market. We had a fantastic response to our Stamp Duty extension and we have seen how many buyers have benefitted from this extra money in their pocket.”
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