Knight Frank Sells £30m Development Opportunity in Surrey
Knight Frank has sold a Surrey development site with a gross development value of £30 million on behalf of Wates Land and Development. The buyer is housebuilder Riverdale Developments, working in partnership with Searls Land and Pyxis.
The site has a long planning history. It currently has detailed consent for 38 extra care and 28 close care units, along with outline permission for 98 extra care units and a care home of up to 60 beds. Knight Frank believes it could also become a residential-led scheme of more than 100 homes, subject to planning. The buyer’s plans will be announced later.
Nick Laugharne, Operations Director in Land & Residential Investment at Wates’ Land and Development Division, called the sale a strong result that shows the business’s ability to adapt its strategy, and thanked the buyers for their speed and professionalism.
Nick Alderman, Head of Central London Land Agency at Knight Frank, said recent policy changes easing planning on Grey Belt land have boosted development opportunities. With housing delivery in Greater London well behind target, he said the transaction should make a positive contribution to tackling the shortfall.
Source: Knight Frank Newcastle, original article (3 January 2026)
