Bellway Homes has bought a former quarry on the outskirts of Chichester in Sussex, with planning consent for 88 homes.
The housebuilder has agreed a £6.55m deal for the five-acre plot from Fiera Real Estate and Danescroft.
The site is located to the north-east of the city centre in an area of development on Shopwhyke Road, between schemes from Redrow and Cala Homes.
Fiera and Danescroft bought the former office and industrial site in 2019. The sale is the third from the Residential Land Partnership fund, with a total of £30m in disposals since February 2020. RLP is a £70m fund managed by Schroders, launched in October 2017.
Chris Button, fund manager at Fiera Real Estate, said: “We have significant resources to acquire similar sites on an unconditional basis to help address the undersupply of housing throughout the UK.”
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