Swindon-based Capital Land Property Group has completed the purchase of 212 acres of land at New Eastern Villages (NEV) Great Stall East, a significant step in the largest and most important urban regeneration development in the UK.
The next round of detailed planning is in progress and plans are for work to commence on the site in 2022. The Great Stall East development will be approximately 20% of the NEV development and is set to include 1,550 homes, a secondary school, a park and ride, and a sports hub.
Capital Land Chief Executive Jeremy Francis, says: “The recent acquisition is the culmination of several years of hard work and dedication by the Capital Land team. This major acquisition allows the company to establish the key components which will open up the way for the wider New Eastern Villages project. The investment by Capital Land represents a significant milestone in the company’s plans for the project at Great Stall East and underpins the commitment Capital Land are making to Swindon’s continued growth in these challenging times. Capital Land are working closely with Swindon Borough Council to ensure this much needed project is now delivered.”
As Capital Land plans to play a central role in delivery of key infrastructure as well as having a continued influence over design and delivery of the scheme, the company will create hundreds of direct jobs themselves during the approximately 14-year construction period, as well as many indirect jobs in the construction and supply sectors.
New Eastern Villages (NEV) is the largest and most important urban regeneration development within the UK. Located to the East of Swindon it is positioned in the Wiltshire Countryside between the North Wessex Downs and the Cotswolds. Identified in Swindon’s strategic growth area within the adopted Swindon Borough Local Plan 2026, it will comprise 8,000 -12,000 homes, a new District Centre, 40ha of employment and associated health, retail, education and leisure facilities.
The leader of Swindon Borough Council, Cllr David Renard, said: “Here, we are not just building houses but sustainable communities, ones that will have as much a stake in the future prosperity of Swindon as the rest of the town. In many ways, the NEV is the next big chapter in Swindon’s exciting story.”