Estate agency Marsh & Parsons has restarted its land and development activity, with a focus on securing sites for small and medium developers.
The agent has expanded to include off-market site sales for SME developers, focusing on unconsented and consented sites around London valued at between £1m and £5m.
The new initiative has been launched by acting head of new homes James Foster, who has stepped in on maternity cover for Siobhan Staunton.
Based in the Marylebone office, the department plans to expand and hire as the division grows.
Foster told EG: “It is restarting the development and investment business, but from a grassroots level.”
It follows a business restructure in 2019 which saw Marsh & Parsons close the land and development division headquarters in New Oxford Street, with a number of high- profile exits, including former head of development and investment Charles Holland.
Marsh & Parsons is now sourcing sites directly through its London network and through third-party agents, with schemes ranging from 5-30 homes.
“While we continue to work with corporates, we are also focusing our efforts on individuals to offer them a specialist service they can’t access elsewhere,” said Foster. He said the model provides an end-to-end service for developers, from the initial site acquisition to the new homes sales.
He added: “There is strong demand for land sites of this size now. In the last year there has been a surge in uptake from experienced developers as well as an influx of new developers coming to the market for the first time.
“People see opportunity now and with the residential market still performing well developers are keen to purchase and build new homes across the city.”
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
