Three land deals ‘will help deliver’ 1,100 homes
Three development sites that will collectively deliver more than 1,100 homes across the Midlands have been sold by CBRE’s development team.
A & J Mucklow, advised by CBRE, has sold a four-acre plot on Camp Hill, Birmingham, unconditionally to a private developer for £7m. The deal paves the way for up to 600 units to be built on the site, which is currently occupied by engineering and electronics firm Dowding & Mills.
Warwickshire County Council has sold a 13-acre site to Miller Homes for £7m. Meadow Farm, Rugby, has outline planning permission for 150 units, with a potential development value of £40m.
The third deal was the purchase by Redrow Homes of a 41-acre site at Castle Farm, Telford, where it plans to build 395 units, with a development value of £75m. CBRE sold the site jointly with Harris Lamb to Redrow on behalf of a private client.
Will Blacker, associate director in CBRE’s UK development team in Birmingham, said: “Given the Government’s drive to build more homes there is fresh impetus from landowners to release sites for residential development, coupled with a strong appetite from housebuilders to buy land to replenish their housing stock.
“The sale of these sites will help facilitate the delivery of more than 1,100 new homes across the Midlands.”
The deals follow three other land deals by CBRE’s UK development team last month – to Catesby Estates in Wylde Green, Birmingham, David Wilson Homes in Long Itchington and Persimmon Homes in Longbridge.
