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The Ministry of Defence is in the process of setting up a radical new plan to sell underused, unwanted sites in order to gain capital and make investments elsewhere. The largest site currently up for sale is the RAF Fylingdales outer compound in Pickering, North Yorkshire, which is an impressive 1,139 acres in size.
In fact, this is one of 139 locations (with another 39 sites being considered) that comprise 5,138 acres in total; enough space for a potential 36,000 new homes. No sites have yet been sold and the amount of capital they will raise is unclear, however it is a fantastic opportunity to help address the UK’s housing shortage and boost infrastructure.
Some examples of the proposed infrastructure can be seen at Lodge Hill training area in Rochester, Kent, which is releasing 790 acres and has plans for 3 primary schools, a secondary school, medical and leisure facilities and shops. Furthermore, the MoD Wethersfield Airfield in Essex may provide £140 million for the MoD or a new prison.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.