The Marconi Works in Chelmsford, Essex, has been bought by Bellway for a potential 1m sq ft development, three years after the site went into administration.
Bellway is understood to have paid in the region of £10.5m for the 10-acre site, which was originally built in 1912 by British telecommunications company Marconi. It was the site of the first radio broadcast in 1920.
The site was sold in 2008 for £25m to Ashwell, which received consent for a 1m sq ft scheme. Ashwell entered administration the following year and Zolfo Cooper put the site into receivership.
Robert Neaverson, South region development director at Lambert Smith Hampton, which acted for Zolfo Cooper, said: “The Marconi site has a long history and is the largest – and arguably most high profile – site sale in Essex for a number of years.”
He added: “The site has been vacant since 2008, and had a resolution to grant planning consent for a mixed-use scheme of new homes and retail space, totalling around 1m sq ft. Following a successful sale process, Bellway was identified as the preferred bidder.”
The buyer was unrepresented.
joanna.bourke@estatesgazette.com
