Property consultancy sells 162 acres of development land in Staffordshire

BIRMINGHAM property consultancy GVA has completed the sale of 162 acres of land at Dunstall Lane, near Tamworth in Staffordshire.

The site had been set aside for commercial development but is now earmarked for a residential-led scheme.

The site, situated close to the A5 and adjacent to the existing mixed-use Ventura Park scheme, has been purchased by the Aucott Group, a property investor and developer.

No financial details have been disclosed. 

The land has planning consent for approximately 25 acres of commercial development totalling 470,000 sq ft and comprising a mix of office and industrial uses, although has failed to be delivered as a viable development opportunity for the past 15 years. 

Working collaboratively with Tamworth Borough Council, GVA has successfully submitted proposals for the allocation of the site as a sustainable urban extension (SUE) in the emerging Tamworth Local Plan.

This could lead to the delivery of in excess of 700 new homes and associated infrastructure, which would contribute towards the delivery of housing targets within the emerging plan.

The sale, and associated four-year programme of asset management works, was led by Alan Ryall of GVA’s restructuring and recovery team, assisted by Rob Gardner, a specialist within GVA’s planning, regeneration and development (PDR) department. 

Ryall said: “What was an unviable commercial development site and additional land holding with numerous issues and complexities has been turned around to enable a successful sale to take place. Importantly our multi-disciplinary approach has generated significant additional value. 

“The site is now likely to provide well in excess of 700 houses, a convenience retail store and associated neighbourhood facilities and will hopefully make a significant contribution towards the delivery of housing in Tamworth.”

The sale was undertaken on behalf of Greg Judd, a senior director within GVA’s restructuring and recovery team acting as joint LPA receiver.

Gardner has been retained by the Aucott Group and is currently working on the preparation of an outline planning application, to be submitted later this year.

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