A multi-million-pound land sale in Market Warsop is to provide a swathe of new homes in the Nottinghamshire region.
Leading property consultancy Fisher German has sold the site off Stonebridge Lane with planning permission for 400 dwellings to Barratt and David Wilson Homes.
The firm acted on behalf of a longstanding client, who owns the site, with Harworth Group also appointed as promoter.
Fisher German secured the 40-acre site’s allocation for housing in the Mansfield District and Harworth Group achieved outlined planning permission for 400 dwellings in 2018. A reserved matters application was submitted by Barratt and David Wilson Homes in 2020.
The site was then marketed by Fisher German, receiving a good level of interest from housebuilders due to the great need for new homes in the region, and a sale has now been completed with Barratt and David Wilson Homes.
Matthew Handford, senior development surveyor at Fisher German, said: “We are pleased to have completed a deal with Barratt and David Wilson Homes which will accommodate the great need for both market and affordable housing in the Nottinghamshire area.
“It was a pleasure to work with the land department at Barratt and David Wilson North Midlands on a complex sale contract and I am excited to see the development come to fruition, with the outline planning permission granted back in September 2018.
“We received a strong level of interest in the site throughout the duration of the process which reflects the positive market conditions for development land at the current time, underpinned by strong sale rates, restricted land procurement opportunities and house price growth.”
Barratt and David Wilson Homes is now set to begin work on the site, with the first show homes expected to be open in February 2023.
The development will consist of a mixture of two, three, four and five bedroom properties, with 20 per cent expected to be affordable homes.
Mark Cotes, managing director at Barratt and David Wilson Homes North Midlands, said: “Acquiring the land for our development in Market Warsop is fantastic news as it brings the delivery of 400 much-needed new homes ever closer for Nottinghamshire property seekers.
“The plans for the development include a mix of housing, including 80 affordable homes, and will form part of a major investment in the Warsop area. Our development will also underpin approximately 800 jobs for local people.”
Tim Love, Executive Director at Harworth Group, added: “The proposed development at Market Warsop will have a significant beneficial impact on the local area and communities close by. We are delighted to have worked with our valued partners at Fisher German and Barratt and David Wilson Homes to promote this site, which will deliver much-needed high-quality homes.”