Residential development added to ESP Growth Portfolio Service
ESP Growth completes transaction for Milton Keynes residential development
ESP Growth Portfolio Service has just completed a £2.5 million transaction to develop a residential scheme in Milton Keynes. The development is part of a wider housing scheme known as Walton Grange and will consist of five detached executive homes.
Milton Keynes is a successful new town and is expanding significantly. The site is well located for school and railway stations and is also close to A5 and M1. Development work on site will start shortly and it is expected that construction will take 12 months and sales completed by Q1 2017.
Jonathan Gain, CEO of Stellar commented that “the Milton Keynes project is an excellent opportunity for Succession as it combines our desire for asset backed projects with an opportunity to generate strong returns. Milton Keynes is an exciting area of the country with lots of new commercial development driving demand for residential property and is, according to a recent report, a town where property prices are increasing more than anywhere else principally influenced by significant population growth.”
The project is being developed in conjunction with Heyford Homes and Nabarro acted as legal adviser to Stellar in concluding this transaction.