Housebuilder Persimmon Homes snaps up Newton-le-Willows site in seven-figure deal

Asset management firm Gresham House plc has sold 25.8 acres of a site in Merseyside to housebuilder Persimmon Homes Ltd.

The transaction for the land in Newton-le-Willows, which will realise £7.25m, has already seen Persimmon settle a deposit and initial payment of just over £944k, with the rest of the balance set to be paid in the next 42 months.

Following the sale, Gresham House has retained a five-acre site next to Persimmon’s land and is believed to be exploring retail options.

The London-headquartered asset management firm’s chief executive, Tony Dalwood, said: “The completion of this sale continues the realisation of the company’s remaining legacy assets.

“We remain focused on developing Gresham House as a specialist asset manager of illiquid assets both organically and through acquisitions.”

Elsewhere, it has been decided that Gresham House’s Co-op Bank facility will be reset to £2.85m after £428k of the sale’s proceeds were used to reduce the amount outstanding.

The new two-year agreement with the bank replaces Gresham House’s previous agreement, whereby the firm’s £3.278m facility was to be extended by £372k to fund capital expenditure at Gresham House’s Southern Gateway development in Speke, Liverpool, and then reduced by £800k with the initial proceeds of the Newton-le-Willows site sale.

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