|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