LONDON (Thomson Financial) - Property Recycling Group PLC said it has
exchanged contracts to acquire a 121 hectare site at Kentford near Newmarket in
Suffolk for 1.96 mln stg, to be completed on April 22.
The site, currently in agricultural use, includes three dwellings with
associated traditional farm and stud buildings and a restored landfill site of
over six hectares, the brownfield site developer said.
In the short term, the company said it will generate rental income from the
dwellings and the agricultural land.
The site is subject to an overage provision in favour of the vendor for 21
years, triggered by the implementation of a change of use and measured by the
change in market value, it added.
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