MGPA Europe Fund III’s land development company, Lands Improvement, has obtained planning consent for 196 homes on a former brownfield site in Welwyn, Hertfordshire.
Vacant research and development facilities located on 29 acres of the 47-acre site have now been demolished, leaving the historic country house built in 1846 as a focal point for the development.
Lands Improvement has also acquired the freehold of the land, which was previously held on a 999-year leasehold.
Kevin Moriarty, managing director of Lands Improvement, said: “This will breathe life into a brownfield site. We see further opportunities across the UK to package land for development and we are encouraged by the coalition’s determination to break the planning status quo.
“The country needs new homes to be built and LIH has specialist experience of working with local authorities and communities to bring land forward. We have a strong development pipeline and expect it to grow.”
Annabel.Dixon@estatesgazette.com
