The Wyevale Garden Centre in Timpeley has gone for housing after going up for sale earlier this year.
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Harlex Property has purchased the 7.2 acre site on Thorley Lane.
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This includes the former World of Pets and World of Water, and want to have 80 new houses put up there.
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In 2016 the land was outlined as a potential site for new housing in the first draft of the Greater Manchester Spatial Framework.
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James Nicholson, director of Harlex Property, said: ?I am delighted with this acquisition. I look forward to working with the local planning authority to help a housing-led scheme.
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?I would like to get further sites without planning on an unconditional basis. We will use the funding resources of Palmer Capital.?
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Wyevale had submitted plans to build 15 detached houses on the site. Trafford Council refused due to the land designated as green belt.
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Harlex hope to secure planning consent for the land before selling it on to a housebuilder.
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The purchase of the land was made using the Residential Land Partnership fund. This is managed by Schroder Real Estate alongside Palmer Capital.
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All 145 Wyevale Garden Centres went up for sale by parent company Terra Firma earlier this year.
