Boutique developer Oakmont Homes has completed the purchase of three disused Aylesbury sites, in the latest positive development for the town’s regeneration. The acquisitions include two former offices coming to a total joint area of 50,000 sq ft and a 0.75 acre piece of land, with an estimated GDV of £30 million.
Two of the sites, Sloane House and Cambridge House, are former office buildings which have been vacant for over 15 years. The third acquisition is a cleared land site on Edge Street adjacent to what will eventually become a new Sainsbury’s superstore.
Oakmont Homes has applied for planning permission to convert the sites into boutique residential developments. All three were purchased from Sainsbury’s. Following consent, construction will start in 2019 with likely completion in 2020.
Marc Green, director at Oakmont Homes, comments:
“We are excited to further our contribution to the regeneration of the Aylesbury area with this string of acquisitions. We have a proven track record of converting derelict sites into quality, affordable homes in the local area, as we demonstrated with our Walton Square development.
“Having been unused for 15 years, these sites will contribute to the regeneration of the local area once complete, and provide affordable housing at a time when it is greatly needed.”
Aylesbury is a picturesque market town which features an array of Georgian buildings surrounding the early English parish church of St. Mary. Having recently obtained ‘garden town’ status, the wider town is to be the recipient of significant government funding for infrastructure and housing development.
Oakmont Homes were self-represented on the transaction. Wedlake Bell provided legal advice. CBRE and Addleshaw Goddard advised on the sale for Sainsbury’s.