Linden Homes is buying a major chunk of land from Guildford Cathedral in a deal that secures the Surrey landmark’s financial future.
Following a tender process, Linden has emerged as the front-runner to buy nine acres of land on Stag Hill, on which it will build around 150 homes.
A source said: “The cathedral needs money and previously sold land to the neighbouring University of Surrey. The latest plot is an obvious site for housing. It is on the edge of the city centre on the top of a hill with views for miles.”
The price remains undisclosed, but agents said the site would fetch around £2m an acre.
Linden will now work with the cathedral, Guildford ?borough council and English Heritage to ensure its plans are appropriate and sustainable. The plans will then be put out ?to public consultation.
The new homes will include affordable housing as well as new accommodation for cathedral employees.
The sale is part of a seven-year plan that also includes a ?programme of maintenance work for the cathedral.
The building costs £1.2m a year to run and operates with an annual deficit of £100,000.
Construction of the cathedral, which was used in the film The Omen, began in 1936, but was interrupted by the Second World War and the building was not consecrated until 1961.
Lambert Smith Hampton is advising Guildford Cathedral.
Nick.Whitten@estatesgazette.com
