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National Grid in £32m Redrow land sale

National Grid has sold approximately 38 ha of land near Ebbsfleet Green in north Kent to Redrow Homes.

The site, about 700 m from Ebbsfleet International Station, has been sold with a purchase price of “at least £32m”.

Redrow has acquired the land with a resolution to grant planning permission for up to 1,500 homes and 22,000 sq m of commercial space.

The acquisition was structured as a joint venture under which Redrow will secure planning permission for and build other mixed-use projects in north Kent over the coming decade.

DLA Piper advised National Grid on the deal.

Legal director of DLA Piper Ben Taylor said the deal was a “significant milestone” in their joint venture programme.

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