CALA scoops £30m riverside resi development site in Surrey

LaSalle offloads 7.5 acre site in East Molesley with full planning

CALA Homes, which describes itself as “the UK’s most upmarket major homebuilder”, has acquired a cracking 7.5 acre residential development site on the River Ember in Surrey from global real estate investment manager LaSalle Investment Management.

The site in East Molesley currently houses seven vacant industrial unit, but has full planning in place, after Wates Development successfully pushed through a 95-unit residential scheme in December 2015. CALA has since submitted a Reserved Matters application with a view to starting work on site in Spring 2017.

Gerald Eve managed the sale for LaSalle.

Richard Debney, Regional Director, LaSalle Investment Management: “The sale of Imber Riverside is part of our ongoing strategy to recycle capital and utilise under-used stock to help deliver much needed housing in sought after residential areas.”

Alex Gillington, partner at Gerald Eve: “Imber Riverside’s unique position – in an affluent area, adjacent to the River Ember and expansive green spaces – makes it a particularly attractive site for residential development, and as such the bidding process was highly competitive.”