Deal struck for parcel of land in giant 2,400-homes and employment Coventry development

A deal struck has been struck for a parcel of land in a giant 2,400-homes development in Coventry. The huge 'Pickford Gate' development, which was given the green light back in 2021, is being built in the Eastern Green area of the city.

Now the third parcel of land within the huge site has been sold. This will be primarily for employment use. The site already has outline planning consent for circa 645,000 sq ft of new employment uses comprising industrial and logistics as well as research and development facilities.

The 52 acres of land has been acquired by Royal London Asset Management Property with the 'best in class' scheme to be delivered by national developer Graftongate. A planning application is set to be submitted with more details on what is set to be built on the land.

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It is the third piece of land to be sold within the wider 353-acre Pickford Gate scheme. It will eventually boast 2,400 new homes.

A site for 247 new homes was sold to Countryside Partnerships in March 2023 before David Wilson Homes bought a parcel of land for 491 new homes in September 2024.

Richard Foxon, managing director of Newton LDP, which marketed the site, said: "We’re delighted to have sold this highly sought-after and prominent parcel of employment land. This deal represents the latest milestone in the hugely exciting Pickford Gate development which will help to provide essential new homes and bring wide-ranging economic benefits to the region.”

The wider project also features a new junction which connects Pickford Gate directly to the A45 dual carriageway, providing access to Coventry, Birmingham and other key arterial roads.

James Orr, head of industrial and logistics at Royal London Asset Management Property, added: "This acquisition aligns with our strategy to repurpose capital and enhance portfolio value. Together with our development manager, Graftongate, we are committed to creating best-in-class facilities for industrial and logistics occupiers, prioritising high-quality environments with advanced ESG standards.

"Our proposed scheme at Pickford Gate offers an exceptional opportunity, thanks to its prime location and strategic road connections, to bring much-needed multi-let mid-box space to a market currently dominated by large-scale logistics. We anticipate strong interest, particularly in this under-served regional sector."

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