Southampton: New College site sold

Southampton has seen record land values achieved following the sale by property specialists Atisreal of the New College site on The Avenue.

Atisreal was instructed jointly by both the University of Southampton and the Trustees to La Sainte Union to market the land after working with the two parties and the City Council over the last three years on the site’s redevelopment.

The sale, which formed part of the University’s plan to fully integrate the activities based at New College onto its Highfield campus, has provided a welcome financial boost to its significant investment plans. The University’s legal advisers for this sale were Bond Pearce LLP.

The 8.3-acre New College site, just off The Avenue, will be developed by Linden Homes into prestigious family houses and flats set within the existing mature landscaped grounds.

A number of commercial office buildings will also be developed on The Avenue frontage as part of the mixed-use development.

Stuart Cook, head of Atisreal’s Southampton office, said: “This land is widely recognised as being one of the best development sites in south Hampshire and understandably we received a great deal of interest from both commercial and residential developers alike.

“The process of selecting the successful party was extremely detailed and involved a wide consultation with the City Council in order to ensure the redevelopment of this site provides the environment and quality of accommodation a site like this deserves.

“Linden’s scheme proposals provide an exciting balance of house types and draws on the very attractive mature landscaped environment as well as a number of existing buildings remaining.”

John Lauwerys, secretary and registrar to the University of Southampton, said: “The successful disposal of the New College site will make an important contribution to the University’s very significant Capital Development Programme. This is addressing the need to renew the estate and to enhance the University’s position as a top 10 research university.”

Nicholas Brown, commercial property solicitor in the Southampton office of Bond Pearce LLP, commented: “This was a highly complex deal and we are pleased that it has been settled to the satisfaction of all parties involved.”