Linden Wates has bought a 47-acre tract of land in Welwyn, Hertfordshire from MGPA Europe Fund III’s Lands Improvement.
The housebuilding joint venture paid around £40m for the site, which is known as the Frythe.
The parkland site was previously home to 439,000 sq ft of research and development facilities.
The buildings were demolished, leaving behind a historic house and land for 196 new homes.
Kevin Moriarty, managing director of Lands Improvement Holdings, said: “In just over two and half years we have taken a former vacant industrial site and turned it into a site with planning permissions, ready for housing development to start.
“As a business we are well aligned with the government’s strategy to build new homes and promote growth and we see good opportunities ahead for our business.”
jack.sidders@estatesgazette.com
