Acorn's Commercial & Development Division acquired this surplus parcel of land on behalf of a private investment fund.
The 0.6 acre site had the benefit of outline planning permission, and was marketed by Rapleys LLP on the instructions of Thames Water. Our development team structured a competitive offer, and ultimately won the hotly-contested tender.
Whilst the site appears straight forward at first glance, its position just 8m above a sensitive ground water acquifer necessitated layers of complicated legalities to ensure that the development of the land doesn't create a pollution incident. Our development team managed the legal negotiations, and an equitable solution was reached to enable the unconditional purchase.
On completion, the project was passed to our Planning Management team who engaged BHD Architects and conceived a detailed Reserved Matters application for 8 three and four bedroom houses. Full planning permission was secured under delegated powers, and comfortably inside the Council's 8 week statutory determination period!
With an implementable consent in place, and value added to the project, our development team set about locating a suitable purchaser. Planning permissions for traditional two storey housing developments in the London suburbs are few and far between, and it therefore came as no surprise that early interest was forthcoming. A deal was agreed at the full asking price with regional developers J.P. Whelan Homes and contracts were exchanged within a matter of weeks.
This particular project gave us the opportunity to showcase the depth of our management expertise from winning a competitive tender, to planning enhancement and through to an ultimate sale at a comfortable profit.
PROJECT ADDRESS: East Drive, Orpington, Kent BR5 2BY
