Monday, 11 April 2016

Large chunk of Eastern Quarry sold

Land Securities has sold two-thirds of its Eastern Quarry site to Henley Camland, a partnership between UK private equity business Henley Investments and Camland, infrastructure specialist.

The site – a centrepiece of the proposed Ebbsfleet Garden City project – was sold for an undisclosed sum. The area retained by Land Securities has the capacity to deliver 1,500 homes, alongside 4,700 on the land purchased by Henley Camland.

It is expected the new owners will prepare the site at the former quarry, possibly supported by some of the £310m funding earmarked by George Osborne in last November’s Autumn Statement, before parcelling it up and selling it on to housebuilders.

With plans for 15,000 new homes, the Ebbsfleet Garden City project is a major piece of the Government’s regeneration plans for the South East and for delivering the ambitious homes and jobs targets set for Thames Gateway.

Labour leader Jeremy Corbyn recently made light of the Government for continuously re-announcing its plans to build Ebbsfleet Garden City.

He told the House of Commons the Government had put out a dozen press releases about the development zone – but built less than 300 homes out of the targeted 15,000.

“They’ve made 30 Ebbsfleet announcements and they’ve managed to build 368 homes – that’s 12 homes for every press release!” he told MPs 

He joked: “We need, obviously, a vast increase in press releases in order to get any homes built in Ebbsfleet or indeed anywhere else.”

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