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Tuesday, August 01, 2023

Atisreal completes multi-million pound hat-trick of deals

Atisreal has clinched a series of high-profile deals totalling more than 20m, having overseen the disposal of four parcels of surplus land at St Richard's Hospital, Chichester, for residential development, achieving new record land prices in the area.

Atisreal secured the planning consents for all four sites and negotiated the Section 106 Agreements.

In the first deal, a plot of just over three acres was sold to Persimmon Homes. This was followed by developer Bellway Homes snapping up two parcels of land totalling slightly more than three-and-a-quarter acres.

And in the final transaction, Kingsoak Homes purchased a four-and-a-quarter-acre site for housing. As part of the Section 106 Agreements, the developer pledged to build a new rehabilitation unit used to help prepare patients to get used to life at home after their treatment has finished.

The Atisreal team was led by Tim Cann, Director of Residential Development and Healthcare and included surveyor Simon Williams.

Simon said the company was delighted to have secured such a profitable disposal for its client the Royal West Sussex NHS Trust, which runs St Richard?s Hospital.

"This is an established leafy residential area within walking distance of the centre of Chichester, so there was strong demand from developers.

"We had a great deal of interest in all the sites, which was very encouraging for the local residential market and our client was very pleased with the record land prices achieved."

Atisreal ensured the best possible price was obtained for the trust by phasing the sales and running and informal tender process. It also commissioned and managed the trust's consultants to make sure the project timetable was achieved.

The sites will all be used for a broad mix of housing, ranging from flats to two and four-bedroom houses.