Landowner completes deal on £38m housing development

RICHBOROUGH Estates has completed the sale of an 18-acre development site in South Staffordshire, paving the way for a £38m residential housing scheme.

The site, sold to housebuilder Taylor Wimpey, benefited from secured planning permission for 180 new homes.

The new estate will comprise a mixture of two-bedroom starter homes to five-bedroom family properties.

The development, in Watery Lane, Codsall, will feature more than five acres of public open space, with education and transport contributions to be made to the local area as part of the agreement.

The site will feature 72 affordable homes, in line with the 40% requirement stipulated by South Staffordshire Council’s for all new housing developments in the district.

 Jonathan Bloor, Regional Director at Richborough Estates, said: “This site is the first of any significant size to come to the market in Codsall for some time and it speaks volumes for its potential to deliver much-needed housing to the area that we were able to secure the sale to Taylor Wimpey so quickly.

“Codsall is a fantastic village with a good range of shops, pubs and restaurants and a number of highly-rated schools in the immediate area.

“We understood the council’s desire to ensure a legacy use for this land which enabled us to secure outline planning consent, bring it to market and secure the sale to Taylor Wimpey quickly and effectively.”

Guy Bicknell, Senior Land Manager at Taylor Wimpey, said with a rural setting and yet just four miles from Wolverhampton, the site was a prime residential location.

“We’re naturally delighted to have secured this site. The village setting is desirable and, with its transport links and proximity to Wolverhampton and Birmingham, we’re confident that this will be a highly sought-after destination,” he said.

Cllr Matthew Ewart, who represents the Codsall North ward, said: “Richborough has proved to be a competent and professional organisation that has worked with the planners at the council to create a development appropriate to current housing needs.

“The mix of property types they submitted to us as part of the outline planning application gives us the right combination of new homes for aspirational first time buyers and established family properties that will make a positive contribution to the growth and development of Codsall.”

Pending detailed planning approval, work is expected to start later this year, with the first units available in spring 2017.

Property consultants First City acted on the sale.

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