Garden city sale

摘要

The developer behind George Osborne's much-trumpeted garden city scheme in Kent is seeking to offload a huge chunk of its holdings in the site. Property Week understands that Land Securities is primed to sell land for up to 2,000 homes in the Eastern Quarry area of the proposed Ebbsfleet Garden City, in a move that will see it dispose of a major strategic element of the scheme. The Eastern Quarry site lies between the Land Securities-owned Bluewater shopping centre and the Castle Hill residential site, where homes are already under construction. Almost 5,000 homes are planned for the Eastern Quarry area as a whole - the largest tranche of homes on the scheme. It is understood that Land Securities does not intend to undertake any infrastructure works on the former quarry site and that the asking price for the tract of land is likely to be in the region of £40m. Savills is advising Land Securities on the disposal.