UK property firm Grainger has sold the first phase of its Berewood scheme in Hampshire to Bloor Homes, a site with planning consent for 194 new homes.
UK property firm Grainger has sold the first phase of its Berewood scheme in Hampshire to Bloor Homes, a site with planning consent for 194 new homes.
Bloor Homes will begin construction in November, with the first houses expected to be completed in spring 2013. The end gross development value for Bloor Homes is expected to be in the region of £35 mln (EUR 43 mln).
The sale is in line with Grainger’s strategy for Berewood, which is to sell phases of consented land to housebuilders after first installing infrastructure such as roads and utilities. The total Berewood development comprises 168 acres.
The Berewood scheme will see the creation of 2,550 new homes, two new schools, offices, retail, and two new pubs built over a 10-15-year period.
The scheme, masterplanned by Savills and with phase one designed by Robert Adam of Adam Architecture, received outline planning consent late in 2011 along with detailed planning consent for the first phase.
