Award-winning housebuilder The Hill Group has acquired two parcels of land at Parsonage Road in Takeley, Essex, to deliver 108 homes in a strategic move that signals growing institutional confidence in commuter belt locations with dual connectivity to London and Cambridge. The 6.5-hectare site, purchased through land promoter Endurance Estates and agent Sworders, carries a gross development value of €58m.
The development's structure, 40% affordable housing comprising one and two-bedroom apartments and two to four-bedroom houses for affordable rent and shared ownership, alongside two to five-bedroom private sale units, positions it squarely within the institutional investment sweet spot for build-to-rent operators and housing association partnerships. What makes this particularly compelling for investors is Hill's strategic pivot away from an existing reserved matters consent for a 66-bedroom care home, deemed surplus to requirements by Uttlesford District Council, toward residential units that command stronger yields and align with evolving demographic demand patterns in the M11 corridor.
Reserved matters applications for 88 homes and a full application for 20 homes are scheduled for submission in October 2025, with construction targeted to commence in summer 2026. The development will incorporate energy-efficient fabric-first construction, air-source heat pumps, electric vehicle charging points, cycle storage, and private or shared outdoor space, meeting increasingly stringent ESG criteria that drive institutional capital allocation decisions.
"Parsonage Road is a well-located site that will enable us to deliver high-quality new homes in an area where there is a strong housing need. By adapting existing consents to reflect local housing requirements, we can create a new residential community that truly enhances the local area. We look forward to engaging with residents and stakeholders as we develop our detailed proposals," said Andy Hill OBE, founder and Group Chief Executive of The Hill Group.
Takeley's positioning between Bishop's Stortford and Great Dunmow, with direct M11 access to London and Cambridge, plus proximity to Stansted Airport, creates a transport infrastructure advantage that typically generates 15-20% rental premium over comparable inland locations. The village infrastructure, including established schools and community amenities, reduces the capital expenditure burden on developers for Section 106 contributions.
The Hill Group, ranked as a top 10 UK housebuilder and the country's second-largest privately-owned developer, completed over 2,800 homes in its last financial year and maintains a development pipeline exceeding 32,000 homes, including 10,200 with planning consent. The company operates from its headquarters in Waltham Abbey, Essex, alongside regional offices in Bristol and Abingdon, employing over 950 people. Current Essex developments include Hollymead Square in Newport and a large-scale scheme at Kennel Lane in Billericay.
People mentioned:
- Andy Hill OBE, Founder and Group Chief Executive, The Hill Group
Companies mentioned:
- The Hill Group, Housebuilder
- Endurance Estates, Land promoter
- Sworders, Property agent
- Uttlesford District Council, Local authority
Image Source: Artist's impression, copyright The Hill Group
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