Strutt & Parker acted as joint sales agents on behalf of Lands Improvement Holdings on the disposal of the Frythe, a residential development site in prime Hertfordshire.

A joint venture of Linden Homes and Wates Developments has bought the site, a former research and development facility in Welwyn for a figure in the region of £39m. Strutt & Parker advised on a formal tender sales strategy.

Land Improvement Holdings acquired the 47 acre site in 2011 from Glaxo Smith Kline. Twenty nine acres had previously contained vacant research and development facilities totaling 439,000 sq ft.   The unused buildings have now been demolished, the site remediated and new infrastructure built, and the site is now primed and ready for up to 196 consented new homes to be built alongside the historic 1846 country house that is the site’s focal point.