Former Hauxton chemical works set to undergo £100 million development
£100 million is to be invested into the development of a major mixed use site on the old 80 acre Bayer CropScience chemicals manufacturing facility in Hauxton, South Cambridgeshire.£100 million is to be invested into the development of a major mixed use site on the old 80 acre Bayer CropScience chemicals manufacturing facility in Hauxton, South Cambridgeshire.
The site is expected to be partly developed for long term investment and partly sold on to residential developers. Harrow Estates was chosen from a group of 32 major contenders as the winning bidder for the site and has bought the former crop protection works on behalf of Bridgemere Remediation.
It is proposed that the site will be remediated and redeveloped into a mixed use scheme with an estimated finished value of around £100 million.
The sale provides Bayer CropScience the means with which to instigate a safe disposal exit by acquiring the land unconditionally, with the removal of environmental liabilities and within a tight timescale.
Located to the west of Hauxton village, on the M11 corridor, the site has been used as an agro-chemical manufacturing plant since the 1940s. As part of Bayer CropScience’s rationalisation of production, manufacturing at Hauxton ceased in 2004 and the company’s UK headquarters recently relocated to new, high-tech premises at Cambridge Science Park.
Harrow Estates is currently preparing development proposals for the site, including remediation strategies and outline applications. It is currently estimated that development could begin in 2008 and be completed by 2010/2011.
Mike Riding, managing director of Harrow Estates, said: “The Hauxton site bolsters our rapid expansion plans. Its regeneration will bring significant environmental improvements and provide a visually attractive development. We will be seeking to maintain the constructive dialogue that has been established by Bayer CropScience with the local authority and surrounding community.”
Geoff Morden, Hauxton site manager for Bayer CropScience Ltd, said: “We experienced significant levels of interest in this site due to its prime position on the M11 corridor and its obvious potential for development. Cambridge is a buoyant area and the M11 corridor has been earmarked for major expansion, in accordance with DEFRA policy.
“There is a shortage of housing and we have been in consultation with South Cambridge District Council to agree plans for the sale of the land to create an economically attractive mixed use scheme, to complement the new local development framework.
“Harrow is a company with extensive experience in the remediation of brownfield sites and we have total confidence in their ability to carry out the required decontamination work. Their excellent reputation as market leaders in this aspect of redevelopment made them a natural choice to ensure a successful exit strategy for Bayer CropScience at Hauxton.”
Set up by former Redrow chairman, Steve Morgan, Harrow Estates procures land and property holdings throughout the UK, for a mixture of redevelopment and long-term investment.
The company specialises in the redevelopment of old or derelict industrial sites and has, to date, procured 15 major development / investment opportunities throughout the UK, on behalf of Bridgemere companies.
The Hauxton was marketed through Tom Marshall at GVA Grimley. He said: “This was an exciting yet challenging project for us to work on. We could see the opportunity the site represented and we are delighted at the successful outcome with Harrow Estates. It should help provide a much needed residential area close to Cambridge.”
Harrow has co-ordinated complex remediation strategies in a wide variety of locations. Recent projects include an 18 acre site in Salford, acquired from Clariant Chemicals Limited and requiring a multi-million pound remediation strategy to make it suitable for residential use and a 45 acre site in Blackley, North Manchester, acquired from AstraZeneca and also requiring a multi-million pound remediation programme to facilitate a major mixed use development.