National housebuilder Keepmoat Homes has purchased land at Parkview Campus, Bristol from MCR Property Group for an undisclosed sum.
MCR Property Group won permission from Bristol City Council for the wider scheme in 2019 and then obtained detailed consent for the first phase on the plot last November, before selling the plot to Keepmoat Homes to build a housing community consisting of 91 new build homes.
The new Parkview development based on Whitchurch Lane will transform the brownfield site, previously used as a car park for the old Somerfield head quarters, into much-needed housing for the area. Comprising 17 one and two-bedroom flats and 74 two-, three- and four-bedroom houses, the new homes will be made 100% affordable in partnership with housing association Bromford.
Residents will enjoy brilliant transport links, open green spaces, great shopping amenities and a purpose-built play area.
Charlotte Goode, Regional Managing Director at Keepmoat Homes, said: ‘’We’re thrilled to have purchased brownfield land in Bristol which will be transformed into 91 quality homes, set amongst picturesque surroundings to be enjoyed by residents and the local public alike.
“This desirable hotspot will provide more choice for residents in Bristol and is set in an ideal location for commuters, families and couples.
“The land acquisition of Parkview is another positive step towards our further growth in the region. We look forward to making positive relationships within the community, with the aim of completing our first set of homes in the summer of 2023.”
Wyn Bevan, Head of Development at Bromford said: “Developments like this one at Parkview help meet the growing demand for new affordable homes in Bristol, as house prices are 12 times average incomes*. These homes will provide local people with the chance to move into a modern, quality home, where they can become part of their community. We’re always looking for new opportunities to provide affordable homes and so are delighted to be working in partnership with Keepmoat Homes at Parkview.
“We’re looking forward to seeing these homes take shape and to start welcoming customers into their new homes.”
Harry Ladds, Asset Manager at MCR Property Group, said: “The sale of the Parkview site ensures our vision for Parkview Campus is fulfilled, having worked closely with Bristol City Council and a number of local stakeholders on the masterplan of Parkview Campus. The sale allows us to focus on delivering our current development pipeline and continuing our primary focus on industrial acquisitions across the UK.”
“We would like to thank all those involved in the transaction and we’re very much looking forward to seeing the local community benefit under Keepmoat Homes.
Construction is due to commence in early 2023, with the first homes being completed in the summer of 2023. The development will take approximately two years to complete.
Keepmoat was unrepresented on the transaction and JLL advised MCR Property Group.
Nicholas Rumble, Director at JLL commented: “With demand for affordable, first-class housing across the South West on the rise, it’s crucial that prospective developments are in the hands of ambitious and experienced housebuilders. We’re confident Keepmoat Homes’ purchase of the Park View scheme will create a portfolio of affordable properties future-proofed for years to come and look forward to seeing the progression on site.”