Kier Property and HGP residential JV acquires development site in Tunbridge Wells
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Kier Property and Housing Growth Partnership (‘HGP’), together in Joint Venture, have purchased a 1.46 acre site in Tunbridge Wells from Axa Health. It represents a significant investment by the £80m JV, launched in 2022, with a focus on residential developments on urban brownfield sites.Formerly occupied by Axa Health, the site currently comprises two vacant office buildings, Phillips House and Eynsham House. It is prominently positioned on the corner of Crescent Road (A264) and Mount Pleasant Road, less than five minutes’ walk from Tunbridge Wells train station, which connects to central London in 30 minutes. The site overlooks Calverley Park, close to the town’s main retail centre, in a neighbourhood characterised by an abundance of Grade I and II listed buildings.The Kier Property and HGP JV has remit to deliver 2,000 new homes, both for sale and rent, on brownfield sites in key towns across England.
Rachel Miller, Investment Director, HGP, commented: “The JV’s site acquisition will enable us to revive this central brownfield site to deliver housing for the local community. Strategic partnerships enable us to deploy significant capital and deliver homes at scale, working alongside trusted and experienced partners who are making a positive difference for people and communities across the country.”
Leigh Thomas, Group Managing Director, Kier Property, added: “The acquisition of this site demonstrates our appetite to purchase brownfield sites and repurpose them for residential led mixed-use regeneration. The proposed scheme will deliver much needed sustainable homes designed to the highest standard and will be in keeping and set amongst Tunbridge Wells’ fascinating depth of rich heritage, history and landscape.”
