Developer Bela Partnership has put a 1,000-acre residential site near Corby, Northamptonshire, up for sale.
Priors Hall Park, to the north-east of the town, has outline planning consent for 5,095 homes and is one of the largest regeneration projects in the UK.
Cushman & Wakefield has been appointed to market the opportunity, which is expected to fetch in the region of £120m. It will appeal to a range of prospective buyers including REITs, institutional investors and private equity firms.
The site has already undergone substantial infrastructure work. Development has started on the first phase of 2,094 homes over 123 acres, with house builders including Barratt Homes, David Wilson Homes, Taylor Wimpey, Francis Jackson, Kier and Lodge Park having already bought parcels of land and begun working on site. Around 70% of the homes in the first phase have been sold or are under offer.
Michael Cutteridge, senior director at Cushman & Wakefield, said: “This is an exceptional opportunity in a growth location where extensive works have already been undertaken thereby resulting in the scheme delivering early and sustainable cash receipts from the national and regional house builders on site.
“It is rare for a site the size of the City of London to be available ‘oven ready’ complete with planning and the provision of major infrastructure.”
