Cadman Capital Group acquires three-acre site for residential development
Northampton, UK (19 May 2021) – Cadman Capital Group, a privately-owned, independent private equity firm, has announced the acquisition of a 3.87-acre residential development site, located in the Midlands, as it continues to expand its real estate portfolio.
The site, which is situated in the hamlet of Knaptoft on an area of historic importance, is surrounded by the open Leicestershire countryside. Purchased for a 7-figure sum, the location offers a small-scale residential development opportunity with scope for 13 individual homes of varying sizes. Whilst much of the site is cleared for the build, it is also home to the Grade ll Listed remains of Knaptoft Hall, along with some heritage farm buildings, which will be sympathetically retained to form part of the new dwellings.
Commenting on the acquisition, Asha Winterflood-Rivers, Property Director at the Capital Group said: “In line with our strategy focused on expansion through the purchase of residential development opportunities in strong, rural locations, this acquisition offers great potential, particularly as demand for out-of-city homes in the UK continues to grow at a rapid rate. Following the impact of the COVID-19 lockdowns, we have seen a drastic consumer shift towards residing in more rural locations, which is why we want to provide high quality, energy-efficient homes, with a focus on well thought-out designs and that means homes with space to live well; no shoebox rooms or postage stamp gardens.”
This acquisition is the first outside of Northamptonshire to fall under the ownership of the Cadman Capital Group’s real estate arm, as the business looks to further expand the geographical footprint of its property portfolio. Due to the long running but recently accelerating structural changes in the commercial property market, the business has shifted its focus to residential property in recent years, as the residential sector has proven to be defensive and resilient.
In addition to its real estate success, the business has reported a strong start to the year, with this purchase being the Group’s fourth acquisition of 2021. The three prior acquisitions fell under the ownership of two of the Group’s other portfolios – Food and Beverages and Lifestyle and include the purchase of a Welsh brewery, a 100-acre Sussex vineyard and a Midlands-based gun shop.