Surrey’s premier luxury housebuilder makes substantial site acquisition

01/04/2022

Octagon Developments has acquired Hampton Court Estate, a highly desirable 1.59-acre brownfield site after a competitive bidding process.

The site, located on Summer Road in Thames Ditton, sits at the junction of Hampton Court Way, on the south side of Hampton Court Bridge, just 500m from Hampton Court station and Hampton Court Village.

Full planning permission has already been granted to replace the existing commercial warehousing with 78 apartments and 3000 sq. foot of commercial space. 8 of the units have been allocated as shared ownership homes.

The site has been earmarked as the location for the second development by Chancery Homes, Octagon’s upper mid-market brand. The purchase of Hampton Court Estate marks a significant commitment by Octagon to the continued growth of Chancery Homes, which was established in 2020 with a vision of extending and diversifying their offering to meet industry demand for more high quality, accessibly priced housing.

Land Director, Will Simons comments on the acquisition “Arguably one of the most sought-after development opportunities in Surrey, the acquisition of the site wasn’t without its challenges. We had to overcome significant technical issues, local authority engagement and subsequent agreement with the Historical Royal Palaces with respect to the design. The resulting concept for the redevelopment of Hampton Court Estate is one that blends harmoniously into the surrounding streetscape and will offer a really exciting place to live.”

Arranged across three buildings, initial design concepts promise apartments of between 538 and 990 sq. ft, all with private balconies and access to private outdoor space and some with views of the historic Hampton Court Palace. Designs for two of the blocks also feature secure undercroft parking, large and landscaped communal roof terraces with full lift access to all floors. Internally the specification will feature quality kitchens with Quooker taps and quartz work tops.

There will be a range of one-, two- and three-bedroom homes, tailored to first time buyers, young families and those wanting to downsize to a smaller property as well as buy to rent investors. Construction is expected to start in Autumn 2022.

The location offers excellent connections into London Waterloo, as well as convenient access to local amenities, including Bridge Road’s numerous cafes and restaurants, as well as the expansive Bushy Park and picturesque River Thames with miles of tow path walks.

Tim Banks, CEO of Octagon comments “Purchasing such a significant site on our home turf, just minutes from the Octagon Head Office, is a major milestone for both Octagon and Chancery Homes. Our intention for Chancery Homes was always to build high quality homes for the middle market sector in attractive locations within good commuter distance of London. The acquisition of Hampton Court Estate aligns with this vision. Although Chancery Homes is a recent brand on the housebuilding scene, our reputation within the luxury housebuilding industry stands us in good stead – we are known for our quality and finish, and the emphasis we put on customer and after care service. This is the next chapter for Chancery Homes and provides us with the opportunity to create something truly remarkable for the mid-market sector.”

The Octagon Group pipeline is set to grow further this year with several sites already identified for future developments across Greater London and the Home Counties, including plots for one-off spectacular homes and larger multiple unit sites. The land team continue to seek attractive opportunities of all sizes to sit under the Octagon brand.

CGI created by Collado Colins Architects

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