Pricewaterhouse Coopers, the administrators of Castlemore Securities and its subsidiaries, have put ‘The British’ – a 1,300 acre site near Talywain in south Wales – on the market.
The huge brownfield site is a former colliery and steelworks. The site includes around 360,000 tonnes of coal for extraction before it could be redeveloped, primarily for residential purposes.
PricewaterhouseCoopers real estate partner, Barry Gilbertson said: '"The British” has great potential for profit over time from a range of property development and mining activities, so it seems to be just the right kind of property to be marketing at this stage of the recessionary cycle.
'Given the strong interest already registered in The British, we expect there will be significant competition from a range of well-funded and experienced bidders.’
Around 150 acres of the site is included in the Local Plan as a general development area and it is estimated it could accommodate around 800 dwellings and mixed use developments.
Matthew Hammond, PricewaterhouseCoopers partner and joint administrator of Castlemore, said: ‘Since our appointment, we have been greatly encouraged by the extensive and persistent interest in the better-known Castlemore properties, and in this site in particular.
‘We want to be very clear that this is a structured sale designed to appeal to those developers who are excited by the opportunity and who believe that they can add value to this site and formulate considered proposals. We are undertaking no other marketing of sites from the Castlemore appointments at this time.’