Land Securities sells swathe of Eastern Quarry site
Land Securities has sold two thirds of its land at the Eastern Quarry in Ebbsfleet Garden City to a private equity firm and developer.
In Eastern Quarry, the developer has sold two third of its land to Henley Camland, a joint venture between Henley Investments and infrastructure company Camland.
The land has the capacity for around 4,700 homes, leisure and commercial development, with an estimated value of £1.1 billion, according to Property Week. The joint venture now intends to “parcel up the land” and sell sites in the quarry to housebuilders.
In the remaining third of the site, Land Securities has exchanged contracts with Taylor Wimpey for the sale of 539 plots at Castle Hill, bringing the total number of committed properties to 1,500.
In a joint venture with Lafarge Building Materials and Anglo American International Holdings, Land Securities has also completed the sale of Springhead Park to developer, Countryside, which has already built 300 homes on the site and will now progress with an additional 500 units.