Hogan Lovells Advises New Client Welbeck Strategic Land LLP on Acquisition of Uckfield Site
17 June 2011
LONDON, 17 June 2011 - Hogan Lovells has advised Welbeck Strategic Land LLP on the acquisition of a 195 acre site in Uckfield, East Sussex, for £3 million.
The transaction, which completed on 31 May 2011, marks Hogan Lovells' first instruction by Welbeck Strategic Land LLP. Jackie Newstead, partner in Hogan Lovells' real estate team, led on the transaction with assistance from Associate Simon Keen.
The site, currently under leaseback for agricultural use, has residential potential for 1,000 homes subject to planning, with overage payable upon the granting of planning permission.
Jackie Newstead said:
"This site is of strategic importance in addressing the growing demand for housing in the south east of England, and represents Hogan Lovells' first instruction by Welbeck Strategic Land LLP. This is a strong start to a client relationship that we hope will continue in the future, and we look forward to working with Welbeck as they promote the site and hopefully obtain planning consent for its development."
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