May 9, 2017
Angle Property Ltd funded by the Palmer Capital Development fund III has sold the freehold of Rivernook Farm, Walton-on-Thames to Bellway Homes Ltd. The site comprises 21 acres and benefits from an outline consent for 83 residential units with 41% affordable housing. The planning consent provides for 13 acres of public open space and a new access road.
Angle & Palmer Capital acquired the property in April 2015 for £5.525m and subsequently obtained vacant possession and worked with Elmbridge Borough Council to secure the outline planning consent in 2016. The site is within the greenbelt although was considered previously developed land in part due to the various commercial letting of old farm buildings and yard areas.
Angle Property Director, James Good, said: “We are delighted to have completed the sale of the site to Bellway Homes who dealt with the issues of this complicated site in a very professional manner. The sale concludes a very successful project for Angle Property & Palmer Capital which took two years from acquisition to sale and we continue to seek new opportunities”.
Angle were advised by CBRE and Jackson-Stops & Staff.