RESIDENTIAL – OMEGA WEST / AUCHENDINNY

Date: 24 August 2022

Miller Developments, the leading land and property development group, has sold two sites that have a gross development value north of £180m to a UK housebuilder, React News can reveal.

Bellway Homes has bought plots in the North West and Scotland from Miller Developments, the trading name for M2 Group.

The housebuilder has bought 13.5 acres at Omega Park, Warrington from Miller. The plot forms part of a wider site which benefits from a residential outline consent for 617 homes, with Bellway expected to pursue a circa 200-unit project.

David Milloy, managing director, Miller Developments, said: “The sale to Bellway is the sixth residential plot we have sold at Omega. The site was hotly contested with 13 bids being received on a closing date. Bellway expect to start construction later this year. The success of both the residential and commercial components of Omega is a testament to the careful master planning and forward investment in infrastructure that we have made over the past few years.”

The second sale, 68-acres at Auchendinny in Midlothian, completed in early August. Miller secured detailed planning consent for 395 units, including a 25% affordable provision, before agreeing the deal to Bellway.

DAVID MILLOY, MILLER DEVELOPMENTS

M2 Group, which completed a management buyout of Miller Group’s commercial business in 2018, is expected to target opportunities to redeploy capital from the recent sales as the developer looks to expand its existing portfolio. It comprises a mix of residential sites and logistics developments, including the £1bn Omega Business Park in Warrington.

Milloy added: “Auchendinny was a site that we acquired unconditionally and without the benefit of any planning status. We subsequently secured a residential allocation through the Local Development Plan process. We had strong interest in the site but ultimately selected Bellway because of their commercial approach to negotiations.
“We own some 800 acres of land across the UK and are continually looking to add to our land holdings through the acquisition of sites that offer medium-to-long term development potential.”

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© 2023 M2 Group Ltd
Registered in Scotland
SC601917