Land Securities has entered into a 50:50 joint venture with social housing provider Places for People and is set to agree a land purchase for housing development in Essex.
The partners have agreed to buy 2,400 acres of land to the north of Harlow in Essex to take advantage of the site’s inclusion in the final East of England Plan, which is expected to be released later this summer.
The partnership has bought the site from Ropemaker Properties for an undisclosed sum.
Mike Hussey, managing director London at Land Securities, said: ‘This opportunity stems from the strategic importance and the long-term prospects for London and the south east over the next 20 – 25 years.
'The joint venture allows us to work with Places for People, experts in the delivery and management of housing, to develop an important site recognised by Government as an area for potential population growth.’
David Cowans, group chief executive at Places for People said: ‘As one of the UK’s largest housing, regeneration and property management groups, Places for People offers a complete range of housing tenures, along with social economic facilities such as schools, jobs and quality Green space.
'We look forward to combining our skills with Land Securities experience in large scale development to deliver sustainable communities in the area north of Harlow.’
Later this year, following the publication of the final East of England Plan, the joint venture will seek to engage with the local community and other interested stakeholders.
This will enable the scheme to respond effectively to meet the needs of the wider community and deliver a range of employment opportunities as well as helping to improve local infrastructure provision.
