|Reynard Mills Estate Sold for 20 Million|
Completion subject to planning permission
Schroder Real Estate announces it has exchanged conditional contracts to sell Reynards Trading Estate in Brentford to Notting Hill Home Ownership for a base price of £20 million, with completion subject to securing a residential planning permission.
In March 2013 a residential planning application with a net sales area of 220,000 sq ft was refused by the Secretary of State following a planning appeal.
The Windmill Road Action Group commented that "The price is nearly double the £13 million value the then owners placed on the site back in May 2011, at the time of their original application for 315 homes, mainly in two 7 storey and two 6 storey tower blocks.
"We are concerned that the money the new owners have committed to pay for the site will tempt them to overdevelop it."
19th September 2013