SevenCapital has acquired a residential permitted development scheme in Bracknell, Berkshire, from Clearbell Capital for £12.8m.
The 75,293 sq ft property at One Thames Valley has approval for the development of 130 homes.
Clearbell acquired the site in 2015. It is located in the western part of the city, close to the town centre, the train station and the M3 and M4.
Bracknell is currently undergoing a £770m regeneration, including the recent development of the £240m Lexicon shopping centre.
Angus Baillie, investment director at SevenCapital, said: “One Thames Valley is a prime development site sat comfortably between the main town centre and the residential areas, with easy access to main transport links, that will help to meet the increasing demand for homes within the area.
“The site marks the second successful acquisition in Bracknell for SevenCapital, having also recently completed on the town’s former bus depot site off Market Street.”
SevenCapital was advised by Colliers. Clearbell was advised by Montagu Evans.
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