Eastwood already has a 500-plus unit pipeline across Greater London and the Home Counties.
The new developer will be led jointly by CEO Joshua Prince, formerly of Eucalyptus, and managing director Philip Chadda of TC Developments.
Philip has experience of managing projects, including Upton Gardens – the 842-unit development at West Ham United’s former Upton Park stadium – and Mitre Yard – the 20-storey City and Docklands site within the Old Oak and Park Royal Opportunity Area.
Eastwood’s latest acquisition is the 7.5-acre Hertford Industrial Estate site in Caxton Hill, Hertford, which was purchased unconditionally from La Salle Investment Management.
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The purchase was made in partnership with VFund and ASK Partners with a view to submitting a planning application for a mixed-use site with an estimated GDV of over £50m.
Chris Oatway, director at LDNfinance, acted as a broker for the deal.
Caxton Hill will contribute to a significant pipeline of sites either in planning or under construction across London and Essex, with Eastwood actively seeking further new regeneration opportunities.
Joshua said that Eastwood represented the merging of complementary skill sets, experience, contacts and access to capital which will allow it to deliver mixed-use projects.
“Our focus will be on Greater London and the Home Counties, where we can leverage our expertise to add value.
“Philip’s development track record is exceptional, having helped bring to fruition some of the capital’s most significant sites over the past few years.
“We look forward to working together, with Caxton Hill as an immediate priority.”