Grantchester has signed a joint-venture agreement with Hepworth Properties to develop a large industrial scheme at Holmethorpe Quarry off the A23 in Redhill.
The deal will open up 16.2ha (40 acres) of land for development adjoining Hepworth industrial estate, which currently has poor access under a low-level bridge.
Grantchester director Paul Whight said the joint venture partners would build a new road and bridge and develop some 26,476 sq m (285,000 sq ft) of B1, B2 or B8, according to demand.
Whight said there would be no speculative development, and denied that the project was a departure from the company’s mainstream business as a retail investor: “From time to time we get trading situations in other sectors and this is one.”
Latham Yeomans is advising.
EGi News 27/03/97 ,/P>
