Skanska expands its residential stake at Clay Farm, Cambridge
08 December 2011
Sustainable residential developer Skanska has completed the purchase of its second site at Great Kneighton in Cambridge by acquiring land for up to 310 homes, with advice from real estate specialists at Burges Salmon.
The company launched its UK residential development business at the start of this year with the purchase of 6.5 acres of land which is part of Countryside Properties’ Great Kneighton development, a mixed use scheme to the east of the village of Trumpington.
Burges Salmon’s real estate team have advised Skanska on both occasions, led by partner Ross Polkinghorne and supported by senior associate Vanessa Bunn and planning solicitor Sophie Summers.
As with the development site, sustainability is one of the core values for the project and the new homes will be delivered to Level 4 of the Code for Sustainable Homes.
Commenting, Magnus Andersson, President of Skanska Residential UK, said: "I would like to thank Burges Salmon for the work they have undertaken to enable us to achieve the purchase of our two sites at Great Kneighton. Their knowledge, experience and professionalism has been invaluable in our reaching this key milestone”.
Burges Salmon lead partner, Ross Polkinghorne, said: "There is a huge amount of development potential in this area of Cambridge and we are delighted to be working with Skanska to expand their activity in the region. As with the initial acquisition in January of this year, we have brought together a multi-disciplinary team including the best of the firm's real estate, planning and environmental expertise.”
Burges Salmon was recently named Real Estate Team of the Year at the Lawyer Awards 2011 - marking a rare double, having picked up the title of Property Team of the Year at the end of 2010, at the British Legal Awards.