StockMarketWire.com - Residential property developer Telford Homes said it had exchanged contracts to acquire a site in Stratford for £20.0m.

The land, on International Way, has been acquired from LCR, the Department for Transport and HS1.

The 1.14 acre site was adjacent to Stratford International station and Westfield Stratford City.

It was expected to deliver around 380 homes with subsidised affordable housing anticipated to make up 50% of the development.

The gross development value was expected to be in excess of £160m.

'We have enjoyed considerable success in Stratford developing more than 1,750 homes in the area over the last twelve years,' chief executive Jon Di-Stefano said.

'This site is really well located next to the International station and Westfield, and is an excellent addition to our development pipeline.'




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