Former Milldown School, Dorset
The site of this former primary school and its grounds became surplus when a new school was constructed nearby. A fantastic site on the edge of Blandford Forum and with views across the Milldown, it quickly became apparent that the array of issues and constraints needing to be addressed in bringing it forward made it almost un-saleable in the first instance.
The partnership, in conjunction with the property team at Dorset County Council, worked to address issues such as a ransom on the access and covenants and restrictions on the title. The partnership purchased further land to add marriage value and enhance the capacity of the site and undertook the demolition of the existing buildings. A scheme was prepared and outline planning permission secured for 43 new houses, of which 17 (40%) were affordable.
Having significantly de-risked and built substantial value into the site, it was taken to market. There was enormous interest from developers with the final bid accepted being 50% more than the initial guidance provided by the agents.