Danescroft and Fiera Real Estate (“Fiera”) are pleased to announce the sale of a 4.5-acre site with outline planning permission for 67 new homes on Trumps Green Road, Virginia Water to Bellway Homes for £13million. The consented scheme will include the important provision of 23 new homes as affordable housing.
The site was purchased unconditionally in 2021 on behalf of Fiera Real Estate Opportunity Fund V UK, the fifth fund in Fiera Real Estate’s £600m value add series.
James Trelfa, Managing Director of Danescroft commented, “We are pleased to crystallise this exit in our interest at Trumps Green Road. The site is located in a highly desirable location and will provide a balanced mix of family homes for the local market. We are actively seeking similar opportunities to acquire on an unconditional basis”.
Chris Button, Head of Investment Management, commented “Alongside Danescroft, we are delighted to have completed on the sale of this site which will be providing much needed housing to the local area and has been designed to meet the local Councils housing needs. The sale has generated excellent returns for the Fund and our investors. We are launching a new residential land strategy in Q4 and we have significant funds available to invest in similar sites in the UK with the potential for future residential use, so please get in touch.”
