Bircherley Green shopping centre has been sold to a locally based independent housebuilder.
In a press statement issued this afternoon, Savill's have announced that they have sold the controversial site to Chase New Homes Ltd.
Chase New Homes Ltd, a leading independent property development company, has acquired Bircherley Green Shopping Centre from corporate Pension Fund clients of Savills Investment Management. The acquisition will pave the way for Chase New Homes Ltd to bring forward redevelopment plans to secure the future of this Hertford town centre site.
Chase New Homes are currently building a 595 new homes at Times Square in Welwyn Garden City and a 268 homes at Forster Oaks in Stevenage.
Lucy Winterburn, Director of Investment at Savills Investment Management, commented: "We believe a new development team can take this project forward in a different direction and deliver a scheme that will provide new homes and shops for the people of Hertford."
Chase New Homes, commented: "We are delighted to have the opportunity to regenerate this important site. It is clear that a new design approach is required, and we will be looking to engage with the Local Authority shortly to help sculpt a deliverable and exciting development."
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