Cofton Land and Property is planning to plough around £1.5m into a 15.37ha (38 acre) site to the north of Cardiff before selling it on to house builders.
Cofton will spend the money on installing infrastructure before dividing up the land and selling it on. The total value of the site, including infrastructure and buildings, will be around £20m.
The site has been the subject of controversy for some years with the local council arguing it should be kept as green belt. An unnamed Cardiff land owner sold the plot for a rumoured £6m when the scheme finally received planning consent 12 months ago.
Five house builders, including Wilcon and Westbury, will be buying parcels of land for development.
EH Hales advised Cofton.
EGi News 05/12/96
