South East developers merge to create property business with 500-plus unit pipeline

South East developers TC Developments and Eucalyptus have merged to create a new property business.

The combined firm, trading as Eastwood, is a privately owned development and investment company with a pipeline of over 500 units across Greater London and the home counties.

Eastwood’s latest acquisition is Hertford Industrial Estate site in Caxton Hill, Hertford.

The 7.5-acre development was purchased from La Salle Investment Management in partnership with VFund and ASK Partners.

Eastwood intends to submit a planning application for a mixed-use scheme at the site with an estimated GDV of more than £50m.

CEO Joshua Prince, formerly of Eucalyptus, will jointly lead Eastwood alongside managing director Philip Chadda, of TC Developments.

Joshua said: “Eastwood represents the merging of complementary skill sets, experience, contacts and access to capital, that will allow us to deliver carefully considered mixed-use projects.

“Our focus will be on Greater London and the Home Counties, where we can leverage our expertise to add value.”

He continued: “Philip’s development track record is exceptional, having helped bring to fruition some of the capital’s most significant sites over the past few years. We look forward to working together, with Caxton Hill as an immediate priority.”

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