Former rugby industrial land sold to build 270 homes

St Modwen Properties PLC, through its joint venture company Key Property Investments, where it operates in partnership with Salhia Real Estate of Kuwait, is selling 15 acres of former industrial land in Rugby to housebuilders George Wimpey following the granting of outline planning consent for 270 homes.

The land in Boughton Road was a former GEC factory site which in recent years had been sub-divided into some 40 industrial units. Key Property acquired the site from Marconi in 2002 as part of an acquisition of a countrywide portfolio of former GEC estates.

It is part of a 100-acre £50 million regeneration programme which St Modwen is undertaking in the town.

Peter Robbins of St Modwen, said: “We have agreed a sale to George Wimpey and are starting to demolish the buildings and remediate the site to hand over to them by November.”

For further information contact Peter Robbins (0121 236 7771). Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).