Stanhope to develop Kent mixed-use scheme

Property developer Stanhope is to develop a 550,000 sq ft mixed-use scheme in Kent in partnership with the South East England Development Agency (SEEDA).

It was chosen over competitors St Modwen, Modus, Places for People Homes and Capital and Counties for the 6.65-acre Elwick Road site in Ashford, Property Week reports.

The £150 million scheme will provide offices, shops, homes and leisure facilities at the site of the former Channel Tunnel Rail Link depot and the old Cattle market, which SEEDA bought in May last year.

"Following presentations from a shortlist of developers and further consultations with its partners, SEEDA has commenced legal discussions with Stanhope with the intention of moving them into the position of preferred developer," a SEEDA spokeswoman told the news provider.

"As with any development of this scale further discussions are required to enable a development agreement to be formalised."

Stanhope has 20 years' experience as developers, development partners and development managers and creates and delivers major commercial and mixed-use developments in London and the south-east.

Martin Slowe Property Services are Commercial Property Consultants offering a full range of Commercial Property Services.