Housebuilding giant buys unfinished £100m scheme out of administration
Persimmon has completed one of the region’s largest land deals after buying an unfinished housing scheme out of administration.
The multimillion-pound deal, brokered by agents heb on behalf of administrator Moorfields, has seen the sale of the 26-acre Sherwood Oaks development on the edge of Mansfield.
The sale comprises some 30 fully-finished houses together with the remining part-serviced development land which has consent for a further 283 new homes.
Chesterfield based Stancliffe Homes has bought the completed houses from Persimmon.
Persimmon will shortly restart construction the remainder of the development, which has been re-branded as Regency Grange. A sales office is expected to open for business this August.
“We are delighted to secure a successful disposal of this substantial and complicated site for our client Arron Kendall at Moorfields, and in as short a time as possible,” said Robert Maxey at heb Chartered Surveyors.
“We have been acutely aware that the local community has been keen to see this stalled development brought back to life, and it is always satisfying to assist with bringing much-needed new family housing to the market.”
Gareth Hankin, regional MD of Persimmon Homes, added: “We are really excited to be bringing the Persimmon brand to this part of Mansfield. It really is a great location – within easy reach of the town centre and with a wealth of local amenities. On top of that there is fantastic open countryside just minutes away.”
“Interest in the existing houses is already strong, due in part to the fantastic build quality on offer,” said Sam Jones of Stancliffe Homes. “Our reputation for delivering quality is incredibly important to us. When became aware of the opportunity it was immediately apparent that the high specification of the houses was a great fit with our brand.”
A deadly cocktail of the Covid pandemic, supply chain disruption and soaring building materials prices brought about the collapse of a major north Nottinghamshire housing scheme.
Sherwood Oak Homes and Sherwood Oak Holdings were placed into administrators on October 3, as TheBusinessDesk.com exclusively revealed.
The companies were behind the £100m Oaks scheme in Forest Town, near Mansfield. Just 30 out of the planned 313 homes were completed by contractor Henry Boot on the site when Moorfields were called in.
