Millgate finds perfect partner for latest strategic step 

Having successfully negotiated purchases of, a grade ll listed mansion and grounds near Essendon, Herts and a similar site at Ide Hill near Sevenoaks occupied by a Victorian, Italianate mansion, Millgate Homes have chosen the perfect strategic partner to undertake the conversion of the architectural gems that form the centre piece of ambitious plans for both sites.

P J Livesey, the acknowledged experts at the forefront of specialist restoration will be restoring and converting both mansions, leaving Millgate to get on with the new build.

At Essendon Park, the £28 million project includes the conversion of the mansion, which extends to almost 21,000 square feet, and courtyard buildings into 16 apartments and houses together with 10 new build homes. Millgate's plan not only saves the mansion and courtyard but also regenerates the magnificent walled garden which will house a brand new 6,824 square feet luxury home complete with indoor swimming pool.

As David Simpson, General Manager of Millgate explains:

“P J Livesey is very similar to us in terms of size, age and culture. We are delighted to have a company on board that is as successful at restoration as we are at new build. It's a ‘win win' situation for us both and we have already established mutual respect.

“Both these acquisitions represent substantial investment and whilst we have the expertise to create some really special new homes – with a long list of awards to prove it – we have little experience in the specialist art of restoration. It makes sense for us to leave it to experts who can really do justice to these magnificent listed buildings and there is none better than P J Livesey.

“The new homes at Essendon Park for example will be the absolute epitome of opulent country living; two of the properties in particular – both very substantial detached houses set in extensive grounds and adjoining championship golf courses – will provide the contemporary equivalent of a traditional manor house. The old walled garden is the perfect location for a grand residence in the tradition of gentleman's country homes. Original garden walls surround the property making it totally secure and very private. It will have seven bedrooms, several reception rooms and a high specification to match its architectural grandeur. The ‘X' factor is the lifestyle environment we are creating with superb specification including indoor swimming pool complex and six acres of private gardens. With a price tag estimated at around £6 million it will provide the quintessence of grand country living without compromise - all within commuting distance of central London.”

The Company's timing appears to be perfect. Research published this month by Halifax shows that there are now an estimated 66,600 properties in Britain valued at £1 million and more compared with only 3,400 in 1995 – a twenty-fold increase. There has been a surge in sales at £1 million and above and agents report strong demand for country homes in the £3million plus range.

Both projects and the partnership with P J Livesey are a departure from Millgate's traditional core business of new build in Oxfordshire, Berkshire, Surrey and Hampshire but are in line with its strategic expansion plans which have recently seen growth to over 150 units a year and necessitated a move into brand new purpose built offices in Twyford.

Aerial view of Essendon Park

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For further information please contact
Lorraine Morrissey or Charlotte Rhodes at MMS
tel: 01889 584 808 e-mail: lorraine@mitton.co.uk or charlotte@mitton.co.uk

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