This 25 acre former joinery timber works site was acquired by Langtree in early 2002 on the basis of an income producing medium to long term development opportunity. Following acquisition, focused asset management plan was implemented upon to retain and subsequently increase the rental income from the site.
When acquired, the buildings on site were nearing the end of their useful life and the site was subject to significant soil and ground water contamination emanating from the former timber treatment uses.
Network Space’s development strategy was to split the site in two and secure a residential planning consent for the north part of site, and subsequently dispose of this to a house builder whilst maintaining ownership of the remainder.
Planning permission was secured for the residential development but to facilitate a site disposal, and maximise the receipt, Network Space commissioned a professional team to establish a site specific remediation strategy, to be completed to the satisfaction of the regulators, taking cognisance of the adjacent commercial land use managed by Langtree. Specifically this included measures to mitigate transport of contaminants, noise and nuisance to the site sold by Langtree. With regard to the contamination, Network Space worked with the Environment Agency to monitor discharges from the site and to ensure that the adjacent watercourse was not adversely affected.
Subsequent to the disposal of the initial phase in 2006, Network Space has worked to secure planning permission for the remaining 14 acres and has completed the site investigations and risk assessments works to demonstrate that the site can be remediated without significant impact to the adjacent residential properties. Consent was obtained in 2011 for 157,000 sq ft and the site is currently being marketed for disposal.