Europa Capital and St Congar Land have acquired a 50% stake in a 100-acre residential development site at Toads Hole Valley, Brighton.
The greenfield site has allocation for residential use and the potential for more than 700 homes.
The purchase was made through Europa Fund IV’s residential investment land platform, managed by Europa Capital and St Congar Land. It was bought from the trustees of the Cook family and Pecla Investments, who have owned the land since the 1930s.
The vendors will be jointly collaborating in the land promotion with their remaining 50% interest.
Europa Capital made its first residential land investment in 2010 and has since bought nine sites that represent an aggregate housing provision of 7,300 units.
Hugo Black, partner at Europa Capital said: “This provides a great opportunity to acquire the last remaining sizeable greenfield land site capable of providing residential use in Brighton.”
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