Bruntwood has agreed to sell 13 acres of land to PH Homes for residential development at Alderley Park, the former AstraZeneca campus in Cheshire.
The sale marks for the first disposal for housing at the 400-acre site near Alderley Edge. Cheadle-based developer PH Homes plans a £60m development comprising 74 large family homes, designed by traditional architect Robert Adam.
Chris Oglesby, Bruntwood chief executive and Manchester Science Partnerships chairman, said: “The contrast between the beautiful and peaceful parkland setting and the world class science taking place at Alderley Park is there to be enjoyed. It’s the most attractive residential development site outside of the South East and its wider location is prime Cheshire. Alderley Park also has a particularly attractive sense of place. The landscaping and the quality of the gardens have been lovingly maintained since the 1950s. We understand the site well and are building a community that balances old and new, science and nature, work and play.”
The PH Homes scheme is the first residential phase of the £160m masterplan. There will eventually be up to 275 homes, new sports and leisure facilities, a gastro pub, hotel and farm shop. These new phases sit alongside the ongoing creation of 410,000 sq ft of science space, in addition to the 1m sq ft already in place. The proposals received planning permission from Cheshire East Council in February.
Construction work on the development is expected to get underway early in the New Year with the first homes available for residents to move in for Christmas 2017.
Philip Hughes, managing director of PH Homes, said: “I am thrilled to announce that PH Homes have acquired the first residential phase at Alderley Park. The acquisition will increase PH Homes’ development pipeline to over 150 units with a sales value in excess of £120m. This will take us closer to our goal of becoming the region’s foremost luxury housebuilder. Alderley Park will become the place to live.”
Alderley Park was advised by Addleshaw Goddard. PH Homes was advised by Eversheds.
PH Homes is currently developing eight sites in Prestbury, Henbury, Nether Alderley, Bowdon and Didsbury.