Galliard Homes has acquired three London commuter sites for residential development, which have a combined Gross Development Value of around £265 million
The sites are located in Redbridge, Ipswich and Milton Keynes.
The first site, ‘The Point’, which is a former entertainment complex, is located on Midsummer Boulevard MK9 3NB. It is well located for Milton Keynes’ shopping and leisure facilities and has fast transport links into London and Birmingham.
Galliard will work alongside DS Real Estate to develop new homes as well as ground-floor commercial units or leisure amenities.
The deal was completed in October 2021, with a planning application due to be submitted later this year. It has a potential Gross Development Value (GDV) of up to £150 million.
Connectivity across London
Galliard acquired the second site of a former hotel and restaurant on Redbridge Lane East in Ilford, IG4 5BG. It is located directly opposite Redbridge underground station, offering impressive connectivity across London.
The plans include a mixed-use development of new homes and ground-floor retail space.
The deal was completed in November 2021, with a planning application due to be submitted later this year and has a GDV of £65 million.
The third site is located on Grafton Way in Ipswich, overlooking the River Orwell.
Galliard has existing planning consent for 173 houses, two commercial units, communal gardens and extensive public landscaping, with the total site extending 3.11-hectares.
The deal was completed in December 2021 and has a GDV of £50 million. Work is due to start later this year.
Local regeneration
Simon Welch, head of land and affordable homes at Galliard Homes says: “We are delighted to have secured three key sites for residential development in Redbridge, Ipswich and Milton Keynes, each promising to bring sought-after new homes and amenities, and help with wider regeneration in their locations.”
David Galman, sales director at Galliard Homes says: “The last year was very successful for Galliard, we sold out at several key schemes across London and the South West, and we were able to help buyers find their dream homes despite the challenges facing the market.
“We had a fantastic response to our Stamp Duty extension and we have seen how many buyers have benefitted from this extra money in their pocket.”
