LSH has advised the Kent Police & Crime Commissioner on the £16.2 million sale of surplus land and associated ransom rights at the force’s Sutton Road headquarters in Maidstone to BDW (Barratt Redrow).
The land is not required for operational purposes, and Kent Police will remain at Sutton Road. Proceeds from the transaction will support the force’s capital programme.
Subject to planning consent, the agreement is expected to deliver around 250 homes on the headquarters site and unlock a further 300 homes at BDW’s neighbouring Pested Bars site.
LSH's Development Consultancy team supported the process end to end, including site due diligence, development appraisal and ransom strip modelling, market testing, negotiating terms and safeguarding completion.
Ashley Sorayapour, Development Consultancy, LSH, said: "Securing a £16.2 million sale with simultaneous exchange and completion, alongside robust overage clauses, is a strong outcome for our client in a tough development market. The site will now support around 550 new homes in Maidstone over the coming years."
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