Grosvenor has agreed a new partnership to deliver around 5,000 homes to the east of Chelmsford, in Essex.
Acting as master developer, Grosvenor will work with the landowner Hammonds Estates to promote the 1,160-acre site as the home for a new community.
With the addition of the Hammonds Farm site, Grosvenor’s pipeline stands at around 15,000 homes, up from 2,100 in summer 2017. The company is aiming to triple the size of its strategic land business, targeting a portfolio of at least 30,000 homes within the next five years, focusing on sites capable of hosting 2,000 to 5,000 or more homes.
It is already helping to deliver 1,200 homes with the Universities Superannuation Scheme at Trumpington Meadows in Cambridgeshire and is working on the development of Barton Park in Oxfordshire, which is being brought forward as part of the NHS’s Healthy New Towns initiative.
Alex Robinson, director of development, strategic land at Grosvenor Britain & Ireland, said: “This new partnership exemplifies our target model for our strategic land business. Working with Hammonds Estates, we will focus both on delivering new homes at pace, and creating exceptional communities that create a positive legacy for residents and landowners alike.
“This requires a considered approach and a long-term view. It means deploying capital patiently to unlock development through up-front investment in infrastructure and placemaking, as well as maintaining careful stewardship over the design and management of new communities as they grow.”
Matthew Lynwood, development manager at Hammonds Estates, added: “Our vision is to establish a different model for development. Working with Grosvenor, we want to challenge and innovate – shaping a sustainable and inclusive new community which goes beyond just delivering new homes, but which offers inspiration and opportunities not available elsewhere for all sections of the community that live and work there.”
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
