Changing government policies have forced developers in the former shed capital of Northampton to either include housing in their schemes or sell their land.
The town is part of the South Midlands/Milton Keynes growth area, which deputy prime minister John Prescott has earmarked for 300,000 houses over the next 30 years.
Now Gazeley having failed to gain planning permission for big shed development has sold its 25-acre Milton Ham site to housebuilder Wilson Bowden.
Plans for a mixed-use scheme at the site are expected to be drawn up.
Knight Frank and NAI Fuller Peiser are acting for Gazeley.
Last month, Northampton council granted outline consent for ProLogis’s plans to develop a further mixed-use scheme at its 110-acre Pineham site.
It will feature 40 acres of housing with more than 2m sq ft of sheds.
Ikea, which gave up on new retail warehouse development in Northampton in the face of planning restrictions in July, is on the verge of selling its 23-acre site at Grange Park in the town to Frontier Estates.
Palmer Capital Partners-backed Frontier is also poised to buy English Partnerships’ 15-acre Snelshall site in Milton Keynes.
It is closely involved with the regeneration of Milton Keynes and is expected to propose mixed-use developments for both sites.
DTZ is acting for English Partnerships. Colliers CRE is advising Ikea.
References: EGi News 19/09/05
