Telford Homes To Acquire Land In East London For GBP20 Million

LONDON (Alliance News) - Residential property company Telford Homes PLC said on Monday it has ...

Alliance News 11 February, 2019 | 10:58AM
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LONDON (Alliance News) - Residential property company Telford Homes PLC said on Monday it has agreed to purchase a 1.14 acre site site in Stratford, London, for GBP20 million.

The land, adjacent to Stratford International station and Westfield Statford City, will be acquired from London and Continental Railways, Department for Transport and HS1 Ltd, subject to achieving satisfactory planning consent.

The site is expected to deliver 380 homes with affordable housing expected to make up 50% of the development. The gross development value is expected to be around GBP160 million.

"I am delighted that Telford Homes has exchanged contracts on another acquisition involving LCR and HS1. We have enjoyed considerable success in Stratford developing more than 1,750 homes in the area over the last twelve years. This site is really well located next to the International station and Westfield, and is an excellent addition to our development pipeline," said Chief Executive Officer Jon Di-Stefano.

Shares in Telford Homes were up 1.6% at 338.74 pence on Monday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Telford Homes PLC 282.00 GBX -0.18 -
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