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LONDON-National housebuilder Barratt beat 11 other bidders to buy an 8-acre site from FISPAM at Sunbury, Middlesex, outside London. It paid £13.7 million ($20 million), reflecting the scarcity value of large sites in the area as well as the economic buoyancy of the Heathrow hinterland, which is likely to further improve with the development of Terminal 5.

The brownfield site was previously known as the Windmill Road Industrial Estate and is located in Sunbury’s Lincoln Way–about half a mile from the M3 junction at Sunbury Cross and close to BP’s headquarters. The existing industrial buildings on the site are largely derelict.

A supplemental planning brief, adopted by the Spelthorne Borough Council late last year, zones the site for 100% residential and it is understood that Barratts hopes to build around 240 homes in a mix of 1-4 bedroom houses and apartments.

FISPAM, advised by Stiles Harold Williams, acted for Friends Provident Life & Pensions Ltd. Fuller Peiser represented Barratts.

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