LONDON (ShareCast) - (Sharecast News) - Industrial and property service provider Hargreaves Services has exchanged conditional contracts with Bellway Homes for the sale of 10.75 acres of serviced residential development land at its key Blindwells site near Edinburgh, it announced on Friday.
The AIM-traded firm said legal completion of the Bellway transaction, which was valued at more than £9m in proceeds to Hargreaves, was primarily dependent on receiving detailed planning permission and associated statutory approvals.

It said it expected that those would not be received until the second half of calendar year 2020.

The entire Blindwells site had outline planning consent for 1,600 houses.

Earlier in the year, a conditional contract was exchanged with an unnamed "leading" Scotland housebuilder in Hargreaves' first sale of land at Blindwells.

The contract had a value to Hargreaves of more than £1m, with detailed planning consent expected shortly for that plot, and legal completion anticipated in the first half of the 2020 financial year.

"We are delighted to exchange contracts with Bellway in our second conditional sale of land at the Blindwells site," said Hargreaves group property director David Anderson.

"We are encouraged by the level of interest in the site and look forward to bringing further plots to market in the coming year and beyond."

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