Richborough sells property
Birmingham-based Richborough Estates has sold the 25-acre Bath Vale Works in Congleton to Bovis Homes. The business, which overcame difficulties to secure redevelopment approval for the former 19th century cotton and silk mill, sold the site following clearance and remediation works.
It obtained planning approval for 130 homes and the complex has a gross development value of £25m.
“It has been a long haul because of the recession and the challenges presented by the site but we got there,” said Paul Campbell, a director of Richborough, which specialises in identifying land for mostly residential development.
“These will be quality, family-led homes and everything is in place for Bovis to make a start when they choose to do so.
“Even in a poor overall market for housing, demand is high for the right product in the right location. The supply of land is tight in Congleton – there’s a real scarcity. This is providing what the market is desperate for.
“It will allow new life to be breathed into the Bath Vale Works site.
“The general downturn in manufacturing activity in the UK and the poor quality of buildings meant redevelopment was paramount.”
The site had previously been owned and occupied by P&F Congleton, a metal pressing company and automotive supplier, which went into receivership in October 2004.
Richborough took on 157,000 sq ft of run down and dilapidated industrial units and ancillary office space covering 25 acres.
