One of the UK’s leading real estate businesses, The Crown Estate, has appointed Savills as professional advisor to its Strategic Land Portfolio.
The appointment is for the project management of over 60 sites, with a capacity for 15,000 new homes and 5 million sq ft of commercial space, for a three year period.
The Crown Estate manages a portfolio of over £11bn assets, including a core focus on actively promoting land for development through the planning process, taking a considered and long-term approach to support the delivery of high quality, desirable places for people to live and work in. Last year The Crown Estate secured consent for 7,000 homes across the country.
As well as a dedicated project management team, Savills will assist with the promotion of sites through the planning process, securing planning permissions, land acquisitions and disposals.
Key sites in the portfolio include:
• Hemel Hempstead – a potential urban extension to the east of the town that could deliver up to 2,500 hew homes and 55 hectares of employment land.
• Bingham, Nottinghamshire – a major strategic site to the north of the town with planning permission for 1,050 homes and 16 hectare of employment land.
• Luton – a potential urban extension to the east of the town for up to 2,100 in conjunction with other developers.
• Knutsford, Cheshire – potential releases of land for housing on the north western side of the town.
Steve Melligan, Strategic Land Manager, The Crown Estate said: “Savills’ expertise and experience will make a valuable contribution to the development and growth of our strategic land portfolio, where we take a considered and collaborative approach to bringing forward the right sites, in the right places, for much needed new homes and where people are proud to live.”
Peter Blake, Director in Savills Funding & Development Team, who is leading on the project, said: “We’re delighted to be working with The Crown Estate across their strategic land portfolio, and look forward to securing planning permissions to unlock much needed housing across the country and great places for people to live and work in. They have a significant appetite for new acquisitions, so our 650 strong development division will be on the look out for new opportunities”.
Richard Rees, Savills Executive Director and Head of Development says: “This is a fantastic instruction for Savills and we are delighted to be involved in this really important portfolio’
