Plans for 'later living' scheme on site of former council offices

A specialist retirement housing developer plans to build apartments and complementary care facilities on the Remenham site accessed off Chapel Lane.

PegasusLife has exchanged contracts to build a 'later living' scheme on the site of former Cheshire East Council offices, after being selected as preferred bidder for the location.

The developer aims to provide a mix of one and two bedroom apartments with complementary care facilities on the 1.93 acre site.

PegasusLife will now prepare a planning application for the site, which has already been designated as suitable for residential development, and if successful, aims to start construction in the spring of 2015.

More than 100 expressions of interest and 20 offers were received for this site, prior to Engine of the North selecting PegasusLife as the preferred bidder.

The site consists of two empty office buildings - a three storey former house built around 1870 and a 1960s institution building (pictured above).

PegasusLife, based in Winchester, has a portfolio of schemes throughout London, southern England and the Midlands and the development in Wilmslow would mark its debut in the North West of England.

This is one of several asset disposals via Engine of the North, launched last year to manage and develop the Council's land assets and headed by Managing Director Darran Lawless, who previously spent 15 years at Muse Developments as Development Director.

Darran Lawless, Managing Director of Engine of the North, said: "Working on behalf of the Council a programme has been prepared in respect of a portfolio of sites to deliver over 4,000 homes and 3,000 jobs generating major capital receipts for the Authority – some £40m in the next 3 years (potentially in excess of £80m over a 10 year period) net of development costs and the sale of Remenham to PegasusLife is another important step in achieving those goals."

Mike Brassington, director at Colliers International, managed the sale and said: "PegasusLife is a long established and highly respected provider of retirement housing and its selection as preferred bidder for Remenham Buildings from an outstandingly strong shortlist is an excellent outcome for us and our client. As we expected, the site generated a great deal of interest because it offered a high profile prestige redevelopment opportunity."

Andy Barratt Land Director at PegasusLife added "For us this is a great opportunity to work with a progressive Council and to provide truly desirable housing on such a well located site in Wilmslow. We anticipate strong demand for what will be the first of many PegasusLife developments across the North of England."

Tags:

Cheshire East Council, Engine of the North, Remenham