Weston Homes has unveiled plans to invest up to €571m (£500m) in strategic land acquisitions over the coming five years, buying new homes sites across outer London and the South East in order to further expand the company’s existing €2.4bn (£2.13bn) portfolio of pipeline developments, which will deliver over 7,500 new homes.
Weston Homes will look to purchase sites that can deliver between 100 to 1,000 units on any individual sites, the sites can be either brownfield or greenfield sites, and can be for sale with existing planning consent or subject to planning. The housebuilder will focus on acquiring sites within a 10-15 minute walk of a railway station or public transport facility.
Weston Homes will be looking for sites in locations such Bracknell, Barking, Watford, Hayes and Harlow, and commuter towns within 30 minutes of London including Reading, Stevenage, Borehamwood, Hitchin, Brentwood, Woking and Epping.
With a strong track record of converting historic buildings into new homes including Royal Earlswood, Denham Film Studios and Cambridge Military Hospital, Weston Homes is also interested in Grade II listed or historically important country houses, corporate headquarters or Victorian or Edwardian era educational or medical buildings which could be converted into new residential or mixed use addresses.
Bob Weston, Chairman & Managing Director of Weston Homes, said: “Due to sales success and the sell-out and completion of several major projects Weston Homes has allocated £500 million for land buying and are seeking attractive land opportunities to grow our development pipeline yet further.”
