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Goodman and British Land agree 16 million residential land sale to Barratt Homes in Coventry

Wednesday, October 26, 2011

Integrated property group, Goodman and British Land, have agreed to the sale of 26 acres of residential land at New Century Park, Coventry to Barratt Homes for £16.5 million.

New Century Park is a joint venture between Goodman and British Land (BL Goodman). The sale is conditional on Barratt Homes gaining a reserved matters planning approval to build approximately 381 dwellings together with new public open spaces.

BL Goodman will provide the relevant infrastructure to open up the site and will separately retain the remaining 24 acres of land for future development.

Charles Crossland senior development director at Goodman UK Logistics, said: “This transaction has enabled us to maximise the value of the site and to recycle capital from non-core land holdings. It also enables the site to be taken forward by a high quality residential developer to deliver much needed new residential housing in Coventry.”

Goodman was represented by Savills and NRS.