Cofton Ltd - Mixed-Use Development - Costessey, Queen's Hill

Date: 09 Nov 2005

Cofton Ltd, the land regeneration specialist, has announced the sale of a further two parcels of serviced land to UK house builders Barratt and Bovis Homes, at its major development in Costessey on the outskirts of Norwich.

Queen's Hill, a 224-acre former aggregates site, was purchased in Dec 2004 by Cofton in the largest single development land deal in Norfolk to date. It has since begun work on installing site infrastructure and is selling parcels of serviced land to the house building market on a phase-by-phase basis.

The newest house builder to the development, Barratt, has acquired 15 acres of land while Bovis Homes, having already acquired six acres in July 2005, has bought a further eight acres. Other house builders already on site include George Wimpey and Bloor Homes, which have purchased twelve and seven acres respectively.

Cofton specialises in turning around brownfield sites, installing major infrastructure and delivering serviced or 'oven-ready' plots of land ready for construction. Its masterplan for Queen's Hill, which received planning approval in May 2005, provides for more than 1,300 new homes, 86 acres of Country Park and key community facilities including a neighbourhood centre and school.

Peter Nelson, Land and Property Director, Cofton Ltd said:

"We are delighted to welcome Barratt to Queen's Hills and that Bovis Homes has taken a second parcel of land. In a competitive marketplace, national house builders know that we will deliver remediated land that has outline planning permission, an approved masterplan and its infrastructure will be in place within an agreed timescale. Cofton is, in effect, taking the risk.

Paul Smith, Managing Director, Barratt East Anglia said:

"This is a welcome return for us to Norwich - where we have built hundreds of properties over the years - and is regarded by Barratt as one of the country's finest cities. Barratt East Anglia has recently opened a regional office in Sudbury and during the past few months has been very successful in acquiring land throughout the region. At Costessey, we will be providing in the region of 300 homes for first time buyers and families, with sales anticipated to commence in summer 2006."

Artist's Impression of the Development.

Where do I go now?: » View the latest news items » View the news archive » Subscribe to Weekly Construction Newsletter » Submit news