A joint venture of Goodman and British Land has agreed to the sale of 26 acres of residential land at New Century Park, Coventry, UK to Barratt Homes for £16.5 mln (EUR 19 mln).

The sale is conditional on Barratt Homes gaining a reserved matters planning approval to build 381 dwellings together with new public open spaces.

Goodman and British Land are retaining a remaining 24 acres of land for future development.

'This transaction has enabled us to maximise the value of the site and to recycle capital from non-core land holdings,' said Charles Crossland, senior development director at Goodman UK Logistics. 'It also enables the site to be taken forward by a high quality residential developer to deliver much needed new residential housing in Coventry.'

Goodman was represented by Savills and NRS.