US funds AIG and Cherokee International are among a string of names shortlisted to spearhead the redevelopment of a 1,000-acre former oil refinery site in South Wales.
Others being considered for the Coed Darcy site at Llandarcy, near Neath, are Persimmon Homes; a consortium of Westbury Homes, Taylor Woodrow and Wimpey; St Modwen Properties and The Berkley Group.
Cherokee Investment Partners II, a US fund specialising in contaminated land, recently made its first acquisition as part of an aggressive UK and European expansion strategy.
The $250m (£143m) specialised private investment fund led by former Colliers CRE director Tom Nash has already acquired a 40-acre site in Cranleigh, Surrey.
Twenty one groups expressed an interest in the Coed Darcy project, which is one of the UK’s largest brownfield sites due to be redeveloped.
Advisor Julian Harbottle of Savills said, “The final six encompass an impressive blue chip list of top house building, regeneration and development companies.
“The quality of the field shows that the massive potential of Coed Darcy is now recognised both throughout Europe and across the Atlantic.”
References: EGi News 09/11/05
