St. Modwen and Crabhill Developments sell latest phase in Wantage for £17m
St. Modwen and Crabhill Developments are pleased to mark another successful milestone in the development of the new 1500-home community at Kingsgrove, Wantage, with the completed sale of a 10-acre residential parcel of land to Taylor Wimpey for £17m. This enables the start of phase four of the delivery of new homes in the 227-acre scheme, where St.Modwen is acting as master developer, working closely with landowner Crabhill Developments and its advisors, Carter Jonas.
Following a competitive marketing process, Taylor Wimpey first exchanged on the acquisition in July and has now completed on the £17m purchase to deliver 171 homes, 36% of which will be affordable. The land is located on the “Downland” Phase, close to the new Local Centre that encompasses the newly opened primary school, and the soon to be delivered community hub and public square.
The sale marks the next residential phase of the growing community at Kingsgrove. The first three phases, totalling 428 homes, are being developed by St. Modwen’s award-winning housebuilding business, St. Modwen Homes, as well quality housebuilders CALA and Bellway, making Taylor Wimpey the fourth housebuilder on site and bringing the total of homes under delivery to date to 578. St. Modwen Homes has already completed and sold all of its initial 70 homes in its initial first phase, bringing total occupations to over 100 homes at the end of October.
William Bayston, Senior Development Manager at St. Modwen, said: "With another housebuilder invested into Kingsgrove, we are now over a third of way through the master development of this attractive Oxfordshire community. We are looking forward to working closely with Taylor Wimpey as we progress the delivery of the wider Kinsgrove community, which is already well advanced with the opening of the new school and delivery of the first phases of homes.”
Gary Needham, Land Director for Taylor Wimpey, said: “We are delighted to be involved in the new Kingsgrove development and delivering the next phase of new homes. This high-quality landscape led scheme presented an excellent opportunity to work with St Modwen, and it is clear that our aspirations for design and place-making are well aligned. We’re very pleased to add this phase of Kingsgrove to our growing portfolio and look forward to beginning work on-site.”
James Bainbridge, Chairman at Carter Jonas, said of the sale: “This next residential parcel sold by the landowners at Kingsgrove will significantly increase the rate of delivery of much needed new homes for the region. We are very pleased with the progress and continuing investment into this significant project to deliver our clients’ vision to create a community that everyone can be proud of. We look forward to working on further residential pracels at Kingsgrove as well as looking forward to more exciting news about the community facilities.”
Carter Jonas obtained outline planning permission for the 227 acre site in July 2015 from the Vale of White Horse District Council for up to 1,500 homes, a new primary school, a neighbourhood centre including a pub/restaurant and local retail accommodation, sports pitches, employment space and community amenities set around a central park.
For further information visit www.kingsgrovewantage.co.uk
