£7m property deal frees Cheshire land for 166 homes
Some 166 homes are expected to be built in Cheshire following the successful sale of 30 acres of residential development land by Savills Manchester on behalf of the Crown Estate.
The site in close proximity to Delamere Forest sold for in excess of £7m to the Trafford Housing Trust.
Berit Rose of the Savills Manchester development team, said: “This sale marks the beginning of an exciting creation of a new, high quality community in the North West.
“The site represented a fantastic opportunity to develop a parcel of brownfield land on a highly desirable semi-rural setting next to the prestigious Delamere Golf Course and Delamere Forest.
“Unsurprisingly, we received an incredible amount of interest and the site gained huge traction amongst many of the key players in the house building industry.”
The site offers direct access to Delamere Forest, providing attractive recreational opportunities including walking, cycling and fishing.
The site has Reserved Matters consent for 166 homes and the scheme will now be built out under Trafford Housing Trust’s Laurus Homes housebuilder brand, working closely with Lane End Development Construction and L&W Developments LLP.
The acquisition of the site is the largest scheme being undertaken jointly by the new Trafford Housing Trust and L&Q Developments outside of Greater Manchester.
Paul Westhead, head of new business at Trafford Housing Trust, said: “The Delamere development demonstrates that by working alongside L&Q Developments, we aim to accelerate the rate of new house building across the region by delivering a wide mix of new homes, including a high proportion of affordable housing.
“This, combined with our profit for purpose approach and our commitment to creating sustainable communities where people want to live also gives us a very competitive edge, especially when dealing with local authorities and landowners who are looking for something more than just a top-line profit from a plot.”
Richard Harrison, managing director at Land End, added: “Lane End is thrilled to have secured this unique development opportunity in the heart of Cheshire with our clients, Laurus Homes and L&Q Developments.”
The sale of the site at Delamere Forest is one example of the ongoing work Savills Manchester’s development team is undertaking on behalf of the Crown Estate and highlights the emergence of registered social landlords in the private sector market in the North West.
Steve Melligan, strategic land portfolio manager at The Crown Estate and client lead for the instruction, said: “Savills tackled what turned out to be a highly complicated transaction in a very professional way and, most importantly, managed the process to ensure the sale was eventually completed at the contract price, a particularly important point given the complexity of site conditions and the potential for the purchaser to seek renegotiation.”
Kuits advised Trafford Housing Trust on the transaction.
The first sales from the site are expected in 2018.
Delamere Forest site
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