Carter Jonas has sold one of the last large brownfield development sites in Cambridge on behalf of Ridgeons, the timber and builders’ merchant.
The 8.4-acre (3.4-hectare) site on Cromwell Road is located to the east of Cambridge city centre providing easy access to nearby amenities and the mainline railway station. It was last used as a builders’ merchants, but former occupier Ridgeons has relocated to a new facility on Norman Way. The site has been acquired by Cambridge City Council.
Carter Jonas’ planning team undertook the initial promotion of the site to secure outline consent, before the residential development team brought the site to the open market. Outline planning permission exists for 245 residential units with the approved masterplan including a mixture of apartments and townhouses, as well as provision for a new nursery or community facility, car and cycle parking, and new landscaped open spaces. Carter Jonas has now been instructed to progress detailed planning consent for the site.
The development of the site will be brought forward by the Cambridge Investment Partnership, a joint venture between Cambridge City Council and Hill Investment Partnerships that was formed to develop sites to help meet Cambridge’s significant housing needs, including for affordable housing.
Colin Brown, Partner, Carter Jonas said:
“The Ridgeons site on Cromwell Road is one of the last brownfield sites in this area of Cambridge with neighbouring sites now redeveloped for housing. It is an exceptional opportunity to create a new residential community and deliver much needed housing. We received over 100 enquiries in the first phase of marketing and nine formal offers by the tender date before the Cambridge Investment Partnership was selected as the preferred bidder. The deal we have agreed is testament to the very competitive Cambridge market. From a Carter Jonas point of view we are delighted to have been reinstructed to progress a detailed application.”
Cllr Lewis Herbert – Leader of the Council said:
"The purchase of this site provides us with the opportunity to build a large number of much-needed, high quality new council homes, that will give Cambridge families and individuals the homes and stability thy deserve. The purchase also enables the council to invest in housing development on a key city site."
For further information, please contact Colin Brown.