Telereal Trillium acquires Lands Improvement Group

Telereal Trillium is pleased to announce that it has completed the acquisition of Lands Improvement Group from BlackRock Europe Property Fund III for £120 million.

Lands Improvement is one of the UK’s leading strategic land development companies. The Company acquires greenfield and brownfield land, preparing it for residential-led development by obtaining outline planning and delivering strategic infrastructure. The Company’s portfolio of landholdings consists of c.2,500 acres of land across the UK – a total of 26 assets at different stages, from planning promotion to land sales. Current projects include a major site at Houghton Regis, Bedfordshire, where the Company has secured permission to start work on a 5,150 home residential development with 2m sq. ft of commercial, leisure and retail space.

Telereal Trillium is one of the UK’s largest property companies, owning and managing a £5.5bn portfolio with a total floor area of 86 million sq. ft. Operating in three business areas – property partnerships, investment, and development – it has established a UK-wide portfolio of more than 8,000 properties. Telereal Trillium has long-term property partnerships with some of the UK’s largest occupiers, including BT, the Department for Work and Pensions, Royal Mail and DVLA.

Both companies have an exceptional track record in promoting land for development and securing planning consents, with schemes ranging from small sites for single houses to major projects involving several thousand units. The acquisition will strengthen Telereal Trillium’s presence in residential development while Lands Improvement has secured a new owner with a long-term commitment to strategic land development.

Commenting on the news, Kevin Moriarty, Managing Director of Lands Improvement said: “We are delighted that agreement has been reached with Telereal Trillium. The deal brings together two companies with a wealth of knowledge and expertise in property and strategic land development at a time when there is significant political and market pressure to deliver housing in the UK. With Telereal Trillium behind us as a committed long-term investor, we look forward to building on our long track record of success in this specialist area.”

Graham Edwards, CEO at Telereal Trillium said: “At a time when there is a chronic housing shortage within the UK, we are delighted to be acquiring one of the major players in addressing the housing shortfall. Lands Improvement is a highly successful business. It has a strong management team, important strategic relationships with key partners, and some outstanding land holdings. We believe that it provides a great platform to make the most of the assets it already owns, to make further investments into new sites, and to add value to sites within Telereal Trillium’s existing nationwide portfolio.”

Chris McCormack, Director at BlackRock Real Estate, said: “Lands Improvement has undergone significant change in the last six years and has a strong track record in sourcing and executing land transactions. We have realised a good return for our investors and are confident that the business’ healthy pipeline of deals will allow it to thrive further in the future.”

source

Comments

Recently Popular

Barratt Homes to Build 300 units at Linmere Houghton Regis

Give blood during the Easter holidays

Houghton Regis Chalk Pit Youth Afternoon With Controlled Bonfire and A Chance to Learn New Environmental Skills 17 Feb

Riders on Bikes Could Help with House Robbery in Houghton Regis

Suspension of Council Garden Waste Collections

100th Cannabis Factory Intercepted By Bedfordshire Police

Houghton Regis Chalk Pit Maintenance Money Now Available

More Popular Stories

Lidl Plans For 1.2million sq ft Regional Distribution Centre

Angry Resident Wants Peace Back as Chalk Pit Tourism Takes Off

L&D Hospital Mani Car Park Closes From 13 July - Bigger Car Park To Be Built

A New Secondary School For Houghton Regis

Consultation on New Secondary School in Houghton Regis

Bidwell Heights - Go Ahead for New Build Despite Crime Concerns

Houghton Regis Academy Closure - Public Meeting 10 March

Plans For 66 bed care Home, Nursery & Shops at Lower Thorn Village

Police Appeal After Man Robbed in Houghton Regis

Give blood during the Easter holidays

Houghton Regis local news, events, council news, going on in Houghton Regis and nearby villages, Bedfordshire, UK. Editor Alan Winter

 HRND

Houghton Regis News Desk

Contact HRND
HRND on Facebook
Facebook Archive
HR Clubs & Societies
Construction
Fix My Street
Story Index
HRND Pinterest
HRND on Twitter
Other Group Sites
Luton News Desk
Dunstable News Desk
Editors Blog
More Group Links