Peregrine Gloucester, part of property developer Morston Assets Group, is pleased to announce the sale of 1.55 acres of development land at Barnwood Road, Gloucester to Cheltenham based Newland Homes Ltd. The deal will see a new housing development of 14 homes and the refurbishment of two existing buildings including the former Barnwood Post Office, subject to Newland Homes Ltd gaining planning consent.
Chief Executive for Morston Assets, David Dodge commented, “We are delighted to conclude negotiations with Newland who has an enviable trading record throughout Gloucestershire. The site has, unfortunately, been empty for longer than we anticipated and we hope that planning consent is granted soon so that work can begin on restoring the former Post Office and the new homes..” He continued, “Newland has worked hard, and to a very tight deadline, which is testament to their commitment to the scheme.”
News of this deal is not a first in the area for Morston who sold an initial land parcel at their Barnwood landholding during October 2009 to Litfield Land. David Dodge said, “For our part, this is the second land disposal at Barnwood, the first being to Litfield Land who have commenced the development of anew Ibis Hotel. We are also expecting a further disposal in the very near future to Gloucester County Council – as such,whilst a relatively small site for us, it has served to illustrate our core skills in assembling, promoting and developing mixed-use development sites.”