Thorpe Park Developments, a joint venture between Scarborough Group International and Legal & General Capital, has sold a 20.3-acre development site at Thorpe Park Leeds to Redrow for the delivery of up to 300 homes.
The deal with Redrow forms part of a wider plan to deliver the residential element of a mixed-use scheme in phase two on the 200-acre site in east Leeds.
Redrow’s Yorkshire operation will develop housing with an anticipated gross development value of £70m.
Redrow will also be responsible for a package of community provisions worth around £1.85m, including contributions to education and public transport, in addition to wide-ranging community provisions by Scarborough as part of the overall scheme.
In addition to the housing, Thorpe Park Leeds has planning consent for a 1.35m sq ft mixed-use expansion of the existing 800,000 sq ft business park.
Preparation work is already underway to deliver a new 300,000 sq ft shopping and leisure park and a first phase of 40,000 sq ft of offices. The development also includes a 113-acre public park with sports facilities.
Redrow’s development will be a “gateway” to the eventual construction of up to 7,000 homes including the East Leeds Extension.
The Thorpe Park Leeds development will deliver the primary infrastructure to kick-start the new East Leeds Orbital Road and the initial site preparation works have already commenced to connect Manston Lane, Crossgates, to junction 46 of the M1.
Work is due to commence in 2017 with completion of all 300 homes scheduled by 2021.
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