Regional property company, Pigeon, has announced the consolidation of its land promotion business to accelerate the delivery of more than 40 strategic residential and mixed-use development sites in the East of England.
Pigeon has amalgamated its five land promotion portfolios to create Pigeon Land, establishing the company as the largest independent land promoter in the East of England.
Pigeon’s portfolio brings forward a dynamic mix of opportunities for development and growth and includes 20,000 plots for new homes in the region, of which almost half are allocated within a Local Plan or have planning consent. The majority of the sites are in proximity to Cambridge and the key transport and logistics hubs of the East Coast ports and Stansted Airport. The projected value of the land with planning permission is approximately £1bn.
James Buxton, Pigeon Chairman, comments:
“We have worked hard for nearly 15 years to solve some of the challenges facing housebuilding in the region, namely a lack of land, the lengthy delays in obtaining planning permission and under-resourced local authorities. By consolidating and recapitalising, Pigeon Land can bring land forward, move quickly on developments and, importantly, invest heavily in long-term community engagement and Local Plans to accelerate the delivery of much-needed new homes.
“This is a strategic move in line with Pigeon’s broader vision for expansion and growth, and further strengthens our position as the leading land promotion business in the East of England. Landowners across the East of England with sites suitable for new homes can be confident that we have the capital to invest and the ability and expertise to move quickly.”
James Buxton and William Stanton are joined on the Pigeon Land board by three Non-Executive Directors; Simon Mackenzie-Smith, Hugh Garmoyle, and Richard Ballard. They bring extensive investment banking and corporate transaction experience to the company.
James Buxton concludes: “The growth of Pigeon’s land promotion business has accelerated in the last five years. Pigeon Land is a springboard for further growth and marks an exciting phase in the development of our business. With a possible change of government and a potentially more favourable planning environment, the consolidation underlines our commitment to working with both landowners and investors to bring forward housing developments in the region.”
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