A period of legal exclusivity for London & Metropolitan’s bid to buy the 325-acre Pfizer site in Sandwich, Kent, has ended without a deal.
In January, the developer was selected as preferred bidder to buy the site, which has been renamed Discovery Park, however the company and the vendor were unable to agree terms.
London & Metropolitan had wanted to redevelop the site into a technology and business park.
US pharmaceuticals developer Pfizer, advised by CBRE, said it had now begun talks with other interested parties.
In May 2011, Pfizer announced its intention to have fully exited the site by the end of 2012, and it was set to either be sold off in its entirety or broken up.
joanna.bourke@estatesgazette.com
