Property adviser GVA has completed the sale of four prominent sites in the South West on behalf of The Defence Infrastructure Organisation (DIO).
The Foxhill, Warminster Road and Ensleigh sites in Bath were put up for sale after becoming surplus to Defence requirements as was the site of the former Erskine Barracks in Wilton, Wiltshire.
DIO is the Ministry of Defence’s (MOD) property and services provider and responsible for managing the military estate in the UK and overseas.
Gordon Isgrove, Land and Development Director at GVA in Bristol, says, “The redevelopment of the sites as mixed use schemes, led by housing, are an important element for both local authorities to meet their housing numbers.
“Development opportunities particularly in Bath have always been restricted, and the potential capacity and quality of these new sites is unprecedented. Demand for housing in Bath is very strong due to the limited amount of new development in the last few decades.”
The 19.2 ha Foxhill site has been purchased by Curo, one of the largest social landlords in the West of England. The site has the potential for up to 700 homes. Curo has more than 12,000 homes across the Bath and Bristol area with nearly 1,500 new houses due to be completed by 2016.
Warminster Road has been purchased by Square Bay in a joint venture between Square Bay and Bristol-based Firmstone Developments Ltd. The 6.85 ha site has the potential for approximately 100 units, subject to planning. Square Bay specialises in residential and mixed use development and Firmstone Developments is a leading south-west developer.
Ensleigh has been purchased by a subsidiary of IM Properties Plc, one of the UK’s largest privately-owned property companies with more than £550 million of property assets in the UK, mainland Europe and the USA. IM Properties Plc plans to remediate and redevelop the 8.75 ha site for approximately 250 units.
The 34.4 acre site in Wilton, near Salisbury was sold to Redrow Homes, who have plans to re-develop the land as part of a community partnership with OurEnterprise and the Wilton Community Land Trust. The site, which has already been granted outline planning permission, has the potential for the creation of 450 dwellings and 7.4 acres of employment accommodation.
Martin Lloyd, DIO Head of Disposals South, says:
“The MOD keeps the size and location of its assets under constant review. The sale of these sites is a good example of how by working with industry partners we can ensure land that is surplus to military requirements is put to good use while providing value for money for the taxpayer.”
