The final 11.8-acre phase of the former army barracks in Mill Hill has been sold to Chinese developer Poly Real Estate Group in its first move into the UK market.
The developer, which has schemes in Australia, the US and China, will develop 706 homes on the site, 134 of which will be affordable.
Poly RE is a subsidiary of the state-owned China Poly Group. The Guangzhou-based company is listed on the Shanghai Stock Exchange and the government is a majority shareholder.
Poly global managing director Arthur Wang said: “This is quite a significant acquisition for Poly Real Estate Group as our first development site in the UK.
“The site has been strategically selected owing to its close proximity to many popular schools, and it benefits from excellent transport links and fantastic amenities. We are proud to be a part of this impressive development site and the thriving community which will call Millbrook Park home.”
The 2,240-home Millbrook Park was being brought forward by the Inglis Consortium, a joint venture between Annington Property, London Borough of Barnet, St Modwen and Vinci.
Knight Frank advised the Inglis Consortium.
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