The English Residential Land Partnership, Europa Capital and St Congar Land's residential land vehicle, has invested in a 100-acre land site near Brockworth in Gloucestershire. This acquisition has been undertaken in joint venture with Newby Management.
The English Residential Land Partnership was created to acquire and promote residential and mixed-use land predominantly across Southern England. The vehicle was established to acquire land at various stages in the planning process and will look to further the planning status in order to maximize value.
Miff Chichester, Partner of St Congar Land, noted, "The English Residential Land Partnership will undertake direct land purchases as well as funding third party promoters as is the case on Brockworth. The key is the planning prospects which are excellent on this site. We are working on a number of similar transactions which we hope to complete on in the near future".
Nick Moody, CEO of Newby Management, commented, "We at Newby are delighted to have agreed this new venture with Europa Capital and St. Congar and look forward to working closely with both parties in order to create maximum value on this project and our other opportunities."
Noel Manns, Principal of Europa Capital, said, "We are delighted to have undertaken the English Residential Land Partnership's first transaction and look forward to progressing similar land opportunities."