East Cheshire Engine of the North, the development company established recently by Cheshire East Council, has brought it first asset to market for disposal.
The 1.93 acre site known as Remenham buildings off Chapel Lane has been designated by the council as suitable for residential development and could accommodate up to 45 homes. It was previously used for council offices.
This is the first of several asset disposals planned by East Cheshire Engine of the North, headed by Darran Lawless, formerly director of Muse Developments. The council property company has £400m of land assets, for a mixture of management and sale.
The Wilmslow site consists of two buildings, a three-storey former house built in the 1870s and a two-storey building with a flat roof, and is located within half a mile of the town centre and one mile from Wilmslow train station.
Darran Lawless, managing director of East Cheshire Engine of the North, said: "Following my appointment earlier this year my team and I have been tasked with delivering economic growth and local prosperity by enabling development and maximisation of receipts on behalf of the council.
"A development programme has now been prepared in respect of an initial portfolio of sites to deliver over 4,000 homes and 3,000 jobs generating major capital receipts for the authority; some £40m in the next three years and potentially in excess of £80m over a 10 year period, net of development costs. The sale at Chapel Lane is an important first step in achieving those goals."
Mike Brassington, director of development consulting and agency at Colliers International, is handling the sale. He said: "Securing the first disposal instruction on behalf of East Cheshire Engine of the North is an excellent appointment for us. The Remenham site offers a high profile prestige redevelopment opportunity in which we expect to generate a very high level of interest."