Turnstone to develop high quality housing in Walton-On-Thames


11-08-2003

Turnstone has acquired Nelson House, a 25,000 sq ft vacant office building, from the BBC Pension Trust for 2,600,000



The building, which is adjacent to Walton-On-Thames railway station, will be demolished and the site re-developed to provide high quality apartments.

The development will also incorporate a high proportion of Affordable Housing, supports the Government guidance of the re-use of brown field sites to provide new housing. Local authorities are being given further tools to help them recycle land and buildings for housing to reduce the need for green field land use. A good practice guide on urban housing capacity, Tapping the potential, will help authorities to fully identify all opportunities for reusing existing buildings, empty homes, office conversions, and under used or derelict land to meet future housing needs.



The government is also publishing draft good practice guidance on the managed release of housing sites which aims to ensure brown field sites are utilised before green field sites are released.

'We are delighted to have purchased this property, our second major acquisition in Walton-On-Thames. Being adjacent to the railway station the site is perfect for a high quality residential development and the scheme reflects government guidance on the re-use of brown field land' explained Russell Tame, Director at Turnstone.



A planning application is expected to be made in August.

 

Established in 1989, Turnstone is one of the most active and dynamic property companies in the south east of England.

Turnstone Estates Limited