Severn Trent sells Nottingham land in £22m deal

A proposed housing development of 830 homes in Nottingham has taken a step closer after Severn Trent has sold land in the city through its property subsidiary, Midlands Land Portfolio, to Persimmon Homes for £21.8m.

The site, between Netherfield and Stoke Bardolph, will create 830 new homes as well as new leisure areas including play pitches with changing facilities, allotments, children’s play areas, an ecology park for the community to use and a new primary school.

Andy Smith, managing director of Severn Trent Business Services, said: “This is an excellent example of innovation with public and private sectors working together for the communities they serve and building new homes which are desperately needed in this area. In line with the strategy we have previously announced, we are very pleased that by making our business more efficient, we have been able to free up land to help create this development. It is also great news for Severn Trent customers because a portion of the proceeds we receive will be shared with customers in the form of lower bills in the future.”