UK-based property developer Weston Homes has finalised deals to purchase a 10.36-acre site in Thornwood, Essex, to construct the Thornwood Park residential project.
The £33.5m project will feature around 62 new family housing units comprising two, three, four and five-bedroom floorplans.
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The community will also include gardens, a community orchard, landscaping, a parking area and 4.7 acres of open space for the public.
The purchase of the area in Thornwood is subject to planning approval (Resolution to Grant Outline Planning Permission), which permits the removal of existing structures on the site, followed by the construction of new housing units.
The purchase is the first in a list of site acquisitions currently in negotiations as part of Weston Homes’ plans to invest approximately £500m in strategic land acquisitions over the next five years.
According to the plan announced in November 2022, the company plans to expand its current £2.13bn portfolio of pipeline projects across London and the South East, as well as produce more than 7,500 new housing units.
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By GlobalDataWeston Homes chairman and managing director Bob Weston said: “The acquisition of the Thornwood village site in Epping will enable Weston Homes to deliver a new residential scheme of family houses perfect for first-time buyers, young couples, and families.
“This new development in the London commuter region is part of our ongoing major growth and expansion.
“The business has a highly diverse range of developments across London and the South East, including traditional housing and major landmark mixed-use schemes.”
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Rendering of the Thornwood Park residential project. Credit: Weston Group Plc.
Image: https://www.weston-homes.com/wp-content/uploads/2023/04/vb2186998_ThornwoodPark_Thornwood_Epping.jpg
