Weston Homes pledges £500m for land acquisition fund

Weston Homes is planning to invest up to £500m in strategic land acquisitions over the next five years, buying sites across outer London and the South East in order to deliver more than 7,500 new homes. The housebuilder will look to purchase sites that can deliver between 100 and 1,000 homes, with a focus on those within a 10-15 minute walk of a railway station or public transport facility. The company will look for sites in locations such as Bracknell, Barking, Watford, Hayes and Harlow, plus commuter towns within 30 minutes of London including Reading, Stevenage, Borehamwood, Hitchin, Brentwood, Woking and Epping. It is also interested in grade II listed or historically important country houses, corporate headquarters and Victorian or Edwardian-era educational or medical buildings that could be converted into new residential or mixed-use schemes. The company has an existing £2.13bn portfolio of pipeline developments across the South East. Weston Homes chairman and managing director Bob Weston (pictured) said: “Due to sales success and the sell-out and completion of several major projects, Weston Homes has allocated £500m for land buying and are seeking attractive land opportunities to grow our development pipeline yet further.”   To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews Image © Weston Homes