ST. MODWEN COMPLETES FORMER FORD PLANT REGENERATION WITH THE SALE OF THE LAST TWO PHASES FOR 230 HOMES

St. Modwen,  the expert developer and regeneration specialist,  has today completed the sale of the last two phases of its 30-acre former brownfield site in South Ockendon, Essex. The two freehold phases measuring  10 acres, have been acquired by the company’s award-winning housebuilding business, St. Modwen Homes.

St. Modwen Homes recently secured consent for the detailed design of the 230 new residential units at Planning Committee on 7th June.

The well-located site, which lies just 2 miles off the M25 near the Lakeside shopping centre, is immediately adjacent to the South Ockendon station that provides a direct rail service to central London within 30 minutes.

The overall development has consent for 650 one, two, three and four bed residential units, extensive landscaping and public open space. This final sale follows the success of the first three phases: Phases 1 and 2 were sold to Persimmon Homes in 2012 and 2014 respectively; and the 5-acre Phase 3 was acquired by Bellway in December 2016.

Having acquired the former Ford Motor Company plant in 2006, St. Modwen continued to maintain the industrial activity until gaining consent for a regeneration project comprising a new housing development. The land has been fully remediated and the site prepared and serviced with infrastructure installed to provide ‘oven-ready’ land for housebuilders to move in directly to develop.

Rob Draper, Development Director at St. Modwen said that completing this sale is an important marker in the Company delivering its objectives.
“The sale of Phases 4 and 5 is a great success for St. Modwen not only for the regional team in seeing the project  through to a successful conclusion, but also as it creates opportunity for St. Modwen Homes to break ground on their first scheme in Essex, helping it deliver on its strategic growth plans.
“It highlights our business objectives in delivering significant land sales to housebuilders from our enhanced land bank and creating opportunities for St. Modwen Homes to achieve its housebuilding targets.”

Dave Smith, Managing Director at St. Modwen Homes, added: “This is an excellent location and the success of the earlier phases demonstrates the huge demand for new residential sites in Essex.

“South Ockenden has proven demand from families and commuters and the availability of a further 230 new homes in this location will be a significant contribution to buyers in this area.”

Blake Morgan LLP acted for St. Modwen Developments on the disposal and Gowling WLG LLP acted for St. Modwen Homes in the purchase.