Rembrandt House

Landchain and U+I realise profit from Watford

Having gained a successful planning consent on Phase Two for a mixed use development Landchain and Development Securities (U+I) have exchanged contracts to sell the remaining building at Rembrandt House for £3.25m to Henley Homes.

Since purchasing the asset for £4.25m in 2011 with Joint Venture partner Development Securities Plc (U+I) planning consent was initially obtained on Phase One for 107 residential units and subsequently sold to Shanly homes for £5.6m. The sale brings to the end our involvement in regenerating a previously under-utilised, Brownfield site for both continuing employment use and residential development.

Both phases of the development contained 40% Affordable Housing.

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