A visionary residential project creating a wealth of community and biodiverse assets.
Tenure
Freehold
Timeline
2021 – Ongoing
Area
55ha
Partner
Oaktree Capital
Delivery
558 of the homes to be delivered by Crest Nicholson
OPPORTUNITY
In December 2021, Greycoat and Oaktree Capital Management formed a Joint Venture named Halley Developments to purchase Powers Farm from Hansen. Powers Farm forms part of the North-East Chelmsford Garden Community that will deliver over 5,000 homes.
ACTIVITY
As part of the deal structure Greycoat have the role of Asset and Development Manager and appointed a design team to create a vision for Powers Farm that ties in with the wider ambitions of the Garden Community.
As part of this process, we have prepared planning applications for up to 1,250 new homes, community amenity and associated infrastructure.
OUTCOME
Greycoat on behalf of Halley Developments are in the process of securing planning consents and installing critical infrastructure to accelerate the delivery of much needed new homes.
This approach has enabled Halley Developments to secure a land sale to a national house builder that will allow that party to deliver more than 500 homes.
