Turnstone Estates - Mixed-Use Sale - Essex, Parkway

Date: 03 Mar 2005

Turnstone Estates has speculatively acquired two sites totalling 1.4 acres on Parkway, Chelmsford, Essex for £3.22 million, and is planning a mixed-use development.

The combined sites comprise the Army & Navy Pub, purchased from Mitchells & Butler and an adjoining yard, purchased from timber merchants Gards. Completion is deferred with Gards who will remain at the site until they relocate.

Turnstone is working with Essex County Council on plans to redevelop the site for a mixed-use scheme of restaurant, retail and residential space. The development will include significant improvements to the local highways.

Chris Goldsmith of Turnstone Estates comments: "The site is in one of Chelmsford's most prominent positions located on the Army and Navy roundabout, the gateway to the town. We want to create something suitably impressive."

Turnstone was represented by Januarys and Jefferson and Edgerley Simpson Howe & Partners, Colliers CRE advised Mitchells & Butler and Cooper Hirst advised and Gards.

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