£15m land deals to bring forward 425 East Mids homes
Hundreds of new homes are set for the East Midlands after two sites were sold in multi-million pound deals with a combined value of more than £15m.
Leading development agency Fisher German has sold a site in Earl Shilton, in Leicestershire, and a site in Brailsford, in Derbyshire, to housebuilder Avant Homes following two competitive tender processes.
The 39-acre site off Heath Lane, in Earl Shilton, has planning permission for up to 350 properties and will feature a mix of two to five-bedroom homes, including 20 per cent affordable housing.
The development, which also includes 0.6 hectares of employment land, will provide significant financial contributions to local education providers, healthcare services and highways and will help cater for a long-standing housing shortage in the town.
The 11.5 acre site off Main Road, in Brailsford, has planning permission for up to 75 properties and will feature two to five-bedroom houses including starter and family homes as well as bungalows.
Both developments have outline planning permission and reserved matters applications – finalising the layout and features of the schemes – have now been submitted and it is hoped that work will begin this summer.
Ben Marshalsay, partner at Fisher German, said: “We received a considerable amount of interest for both sites and were very pleased to agree deals with Avant Homes.
“Both areas are very attractive rural locations, but have excellent commutable links to nearby cities, and the developments will bring much-needed new housing to the East Midlands.”
James Turner, senior land manager at Avant Homes, said: “We are very pleased to purchase the sites in Earl Shilton and Brailsford, both of which are key locations for us being right in the core of our operating area.
“They are very pleasant locations, with easy access to local amenities and excellent transport links which will make them very appealing to potential buyers.
“We now look forward to starting work on the site in the coming months and expect the first homes to be completed by May 2019.”
