Educational Trust Brings Development to Fruition

Acting on behalf of the Trustees of Kendrick School Reading, Dunster and Morton have sold a redundant sports field site in central Reading for residential development.

The deal, which was subject to planning permission being granted for an intensive scheme of townhouses and flats was sold to Bewley Homes plc and has a completed value in excess of £9m. Part of the mixed scheme has been allocated to Thames Valley Housing Association.

Charles Hubbard who advised the Trust throughout said "The transaction took some 2½ years to bring to fruition and required the interests of the Trust, School, Developer and Housing Association to be balanced and the difficulties of obtaining planning permission overcome. Part of the proceeds have been allocated to construct a new Sports Centre at Kendrick School."