Development Securities have sold the Gatefold Building, the first phase of The Old Vinyl Factory development in Hayes, to Willmott Dixon.
DevSec announced in their interim trading statement that they have exchanged conditional contracts with Be Here, Willmott Dixon’s Private Residential Sector brand, for the £4.0 million sale of the 132-home building.
The Old Vinyl Factory is a joint venture with Cathedral Group. It has an outline consent for a £250m mixed use redevelopment of the 18 acre former EMI factory site.
Willmott Dixon are expected to start on site in Q4 2013.