22 July 2015
Telereal Trillium has acquired the Wye3 site, part of the former Wye College Campus, Wye, Kent, from Imperial College London.
The site includes Ian Carruthers, Bexley House, Wolfson Lecture Theatre, and Wolfson House, but excludes Withersdane. The campus ceased its academic activity in 2009.
The site comprises a range of historic accommodation buildings, as well as laboratory and research buildings, various facilities, commercial buildings, and residential accommodation. The total area spans 18 hectares.
Telereal Trillium is one of the UK’s largest property companies, owning and managing a £5.5 billion portfolio with a total floor area of 86 million sq ft, and housing 1% of the UK’s workforce. The company’s interests span both residential and commercial development, including long term investment and management of property assets.
Graham Edwards, CEO at Telereal Trillium said: “Our acquisition of the Wye3 site is an ideal opportunity for our company as we are able to take a longer term perspective on development opportunities, more so than many other developers.”
“We see this as a development opportunity to be realised over a 10-15 year time period, in close consultation with the Parish Council and local community.”
Central to the emerging plans will be finalising proposals for the long term consolidation and growth of the Wye Free School. The other buildings could accommodate a mixture of residential, business and community uses.
David Jarman, Planning Director of Hobbs Parker Property Consultants, who will be preparing the planning strategy for the site said: “The first stage in establishing our proposals for the former Wye College site will be to meet with the Parish Council, and local community representatives, to better understand local needs and aspirations, the core principles of which are already set out in the emerging Neighbourhood Plan for Wye.”
“We will be participating in the Neighbourhood Plan process, in parallel with discussions with the Parish Council, local community, and Ashford Borough Council over the development of more detailed proposals” he added.
Graham Edwards of Telereal Trillium also said: “We fully appreciate the importance of the former Wye College site to the future of Wye as a sustainable rural community, and look forward to progressing proposals over the coming months.”
John Anderson, Director of Financial Strategy at Imperial College London said: “The Wye College site dates back many centuries and its usage has evolved throughout history. Our Wye alumni have bonds that they will always feel towards this historic place and we wish the new owners and local community well as they work together to create the next chapter of its future.”
The site is located in the heart of the village of Wye, which is situated at the foot of the North Downs.