It has been confirmed that house builder Henley Camland has bought two-thirds of the Eastern Quarry at Ebbsfleet from Land Securities in a multi-million pound agreement.
Ebbsfleet garden city is one of the UK’s largest residential schemes, with outline planning permission for 6,250 homes over three main ‘villages’ situated across 500 acres of former quarry land.
The sale value of all the homes is predicted to be around £1.5 billion, and Henley Camland is purchasing two of the villages, which will contain around 4,700 homes. The house building company only formed in June 2015 as a joint venture between the Henley private equity group and infrastructure firm Camland Projects. This is the company’s first acquisition.
Ian Rickwood, chief executive of Henley, said: “This landmark first acquisition is a real statement of our intent, and paves the way for us to work towards our long-term goal of creating 20,000 lots across the UK and contributing in the effort to help fix Britain’s chronic housing shortage.
“With Camland having worked in an advisory role for the last four years at Eastern Quarry, we have complete confidence in the site’s potential, and look forward to building on the good work that Land Securities has already carried out.”
The developers will be investing heavily into the project spending around £200 million carrying out major infrastructure works such as levelling land, developing roads and creating a new lake. The firm also have plans to provide shops, leisure and community facilities, including two primary schools and a secondary school.
Paul Spooner, interim chief executive of the Ebbsfleet Development Corporation (EDC), said: “We welcome our new partners.
“With this new commitment and their planned investment, we will see further evidence of a step up in the pace of delivery of new homes and amenities.”
So far, other house builders confirmed to provide 1,550 homes at Ebbsfleet include Charles Church, David Wilson, Persimmon, Taylor Wimpey and Ward Homes.
Countryside is due to start work on 123 homes at Springhead Park shortly and construction of more than 400 dwellings at Castle Hill, one of the villages planned for Ebbsfleet, has been delayed, but is due to start this summer.
Meetings are also taking place between the EDC and Redrow Homes regarding a pub, restaurant and hotel for Ebbsfleet Green - the proposals for which will go before a planning committee in the coming weeks.
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