Towngate plc expands with first residential land acquisition

Commercial property company Towngate PLC has entered the residential market with its first acquisition in the sector.

The Brighouse-based company snapped up a 6.4-acre site on Mill Dam Lane, Pontefract with potential for a housing development.

On-site demolition is complete and a further phase of remediation works is underway.

Towngate has applied for and secured vacant building credits, resulting in planning consent from Wakefield Council for up to 80 homes on the site of the former industrial complex.

Tom Lamb, property manager at Towngate, said: “Close to the M62 and rail network, the site is ideally located, which will be an attractive proposition for any future homeowners.

“We’re delighted to bring this development opportunity to the market. The versatile land has a lot of potential and will be a great project for one of the region’s house building experts.”

He continued: “Our strong commercial experience has certainly aided our involvement in this project and we’re pleased that we have been able to diversify in this way, thus adding to our talents and expertise in the Yorkshire region.”

Property consultancy Harvey Burns & Co has advised Towngate on the scheme.

Lyndsay Burns, managing director and founder of Harvey Burns & Co, commented: “It has been a pleasure to be involved in this project, especially as the space enjoys the benefit of such a lovely environment, taking in views of Pontefract Castle, and just a short walk from the town centre.

“There are excellent communications on the doorstep and Monk Hill Station has direct routes to Leeds and York. There is a brochure and data room which can be viewed for additional information.”

She added: “We will shortly be seeking offers to purchase and expect a great deal of interest.”

Towngate plans to have the land ready for purchase in November.