Fiera Real Estate and Angle Property have sold a residential mixed-use scheme in Oxfordshire to Bellway Homes and CareUK for £17.7m.
The consented 11-acre site at Howland Park has been sold in two transactions, with a 68-bedroom care home going to CareUK and the rest of the site to Bellway Homes.
The housebuilder has picked up the scheme following a long battle for consent for 129 homes and a 16,145 sq ft office. Following Thame Town Council’s refusal in 2019, Angle and Fiera were granted approval on appeal and a subsequent judicial review was dismissed in February this year.
Fiera Real Estate Opportunity Fund IV acquired the vacant site in 2017. This is the fourth fund in Fiera’s joint venture series with CBRE Global Investment Partners.
Chris Button, head of value add at Fiera Real Estate, said: “Fiera Real Estate has substantial cash reserves to acquire similar obsolete real estate in well-connected, sustainable locations where we can use our skill and expertise to repurpose sites for onward sale for residential or industrial uses.”
CBRE advised Angle Property.
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