Working with development partner Hammond Rutts, Taurus has completed the sale of just over half the partnership’s land holdings at Haverhill Business Park. Hillwood, in association with Trebor Developments, has paid a record land price enabling Taurus and Hammond Rutts to realise profit on a substantial part of their land holding in a relatively short period of time from original site acquisition
Commenting on the transaction, Taurus Developments Managing Director, Michael Gibbens, said:
“At the time of the acquisition, the land at Haverhill Business Park was undevelopable, had no planning permission and was of very little attraction to the institutional investment or occupier markets.
“Through a substantial earthworks engineering project and by securing a new 10-year planning permission, we created development platforms immediately capable of being developed.
“This transaction, which follows the sale to London Metric of the MKM Builders Merchants’ development on Plot 4 shortly after practical completion 12 months ago, demonstrates that Haverhill Business Park is increasingly becoming an institutionally acceptable macro and micro location”.