April 8, 2019 Property

Carterwood complete on a hat trick of development sales on behalf of MHA

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Following on from successful sales in Woking and Exmouth, Carterwood have sold their third development site on behalf of Methodist Homes (MHA). The site is located in the picturesque coastal town of Freshwater on the Isle of Wight and benefits from planning permission for a retirement living development of 75-Extra Care apartments, which Morgan Ashley Care Developments will now develop on behalf of Funding Affordable Homes. The completed homes will be managed by Southern Housing Group who will provide housing management and care services.

Andrew White, director of property, MHA, comments “This is our third successful agency instruction, which Carterwood have delivered in under a year and I’m really pleased with their performance in achieving a successful sale. While this site no longer fitted with our strategic requirements, it has fantastic potential and we are happy to see it will be developed. We wish Morgan Ashley well in their new venture.”

Matthew Drysdale, director, Carterwood, said “Having been born and spent my formative years on the Isle of Wight, I was delighted to finally have the opportunity to go back there and act for MHA in a professional capacity. The site represents a stunning opportunity for social impact investor, Funding Affordable Homes and Morgan Ashley to deliver a market leading retirement lifestyle product to the people of the island.”

Tayo Bilewu, Business Development Executive, Funding Affordable Homes, commented “We are delighted to conclude the deal with MHA and are excited about working with Morgan Ashley Care Developments to deliver our second scheme on the Isle of Wight. Freshwater represents an amazing opportunity for us to deliver our product in a stunning coastal location.”

Matthew Drysdale concluded “In achieving a hat trick of development sales for MHA for three different purchasers in three different regions and three very different markets, we are seeing evidence of both the appetite and diversity of operators in the older people’s housing sector, which is encouraging for the growth of the sector.

For information about Carterwood’s services and approach, please telephone 08458 690777, email info@carterwood.co.uk or go to www.carterwood.co.uk.

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