Crest Nicholson has purchased the Wheatley Campus site from Oxford Brookes University as they look to deliver much-needed high-quality housing to meet local demand.
The 53-acre site has outline planning consent for the development of 500 homes, of which 35% will be affordable housing. The development will provide a mixture of two, three, four, and five-bedroom houses, along with some apartments. There are also community facilities planned, such as public open space, a sports pavilion, bowling green, and a cricket pitch.
CBRE advised Oxford Brookes University on the transaction of the site, which is situated close to the villages of Wheatley and Holton, just a few miles away from Oxford city centre.
Nicholas Daruwalla, land director at Crest Nicholson South, commented: “This is a key purchase for Crest Nicholson given the site’s prime location and scale. It is in close proximity to major employment, retail, leisure, and education hubs, making it a highly desirable location. These characteristics, coupled with the area comprising high levels of housing demand and low levels of supply, makes this deal an important purchase for the business.”
“We are pleased to be working with Oxford Brookes University to bring this development to fruition, and with this deal, we will provide a number of much-needed homes, including affordable housing, to help meet local demand. At Crest Nicholson, we invest in placemaking, aiming to deliver attractive homes, amenities and open green space to improve the quality of life for residents, helping to build future-proof communities to be proud of.”
Jerry Woods, director of estates & campus services at Oxford Brookes University, said: “We’re pleased to have worked with Crest Nicholson and our real estate advisers, CBRE, on this sale which will facilitate the move of our remaining activity from the Wheatley Campus to new, state-of-the-art facilities at our Headington campus. The Wheatley site will provide a high-quality residential environment, offering an assortment of housing types to meet local needs. Oxford Brookes has been proud to call the Wheatley Campus home for close to fifty years and the University will continue to engage with local groups and individuals while we remain on the site over the next 18 months.”
Jasper Masters, executive director of CBRE, said: “We are delighted to help deliver such a successful outcome on behalf of the University for this premium asset. The Wheatley sale represents the largest single-family housing site to have exchanged in the UK since last September’s mini budget. A sale of this nature will provide the development land market with a strong sense of optimism. As an Oxford Brookes alumnus, I’m really proud to have played a part in the campus’ next chapter and look forward to seeing Crest Nicholson’s vision for the site being realised.”
Crest Nicholson aims to begin works at the end of 2024, with the first completions to be expected in Autumn 2025. Local residents, businesses and users of the Oxford Brookes Wheatley Campus will be kept updated on the works as they develop.
Source: Show House News
