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Land sale puts Stratford upon Avon closer to hitting housing target

24/11/2020
Bishopton Development layout, Real Estate sale

The sale of a prime residential development site in Warwickshire with planning permission for 500 new houses, including 175 affordable homes, is an important step for Stratford upon Avon to achieve hitting its target for new houses, set-out in the town’s strategic allocation Local Plan.

Lodders acted for one of the three landowner entities involved in the land sale.

Multi-landowner group

Dan MacLeod, associate in the Real Estate practice, explains: “The 62-acre site just outside Stratford upon Avon at Bishopton, is one of Warwickshire’s largest sales by a multi-landowner group to be completed recently, and will deliver desperately needed housing for the community.

“Lodders has worked with the landowner of 26-acres of the total site for a considerable number of years, initially negotiating the latest option agreement for the site in 2002 and, since then, the various changes to the agreement to reflect the evolving planning proposals for the site,” Dan says.

500 new homes

“The site has been bought by two major housebuilders, Taylor Wimpey and Miller Homes, for a significant sum. Its development of 500 new homes, to include 175 (35 percent) affordable homes, will now go ahead, marking an important and significant step towards delivering the requirements of Stratford’s Local Plan that is so important for the housing needs of the local community.

“It is really pleasing to get this transaction over the line and has taken a real team effort between all parties involved to see this through to completion,” he adds. “The transaction was not without its complexities or particular issues, but we were able to work through these collaboratively with the housebuilders’ solicitors, the other landowners’ solicitor and the selling agents to achieve a successful outcome for our clients.”

Attractive scheme

James Walton, of Sheldon Bosley Knight, representing two of the landowners, adds: “This site has been considered an obvious extension to the Stratford settlement for more than 30 years, since the construction of the A46 bypass adjacent. The development provides for an attractive scheme, albeit of relatively low building density compared to some other recent housing schemes allowed in Stratford. The negotiations over the terms for purchase have been hindered by the pandemic, but we are very pleased to have been able to join with Lodders in concluding this sale.”

Expertise

Lodders’ award-winning and top-ranking Real Estate practice is one of the largest in the region, with 32 specialist real estate, commercial property, planning, construction, and highways legal experts. It has a national reputation for its strategic land work for landowners, developers, investors and end users including large national and multinational organisations.

Partner and head of the team, Mark Miller, adds: “This latest deal demonstrates our expertise acting for landowners on large multi-landowner transactions and is one of many transactions on which the team has acted for local landowners on strategic land sales.”

The selling agents for the site were James Walton at Sheldon Bosley Knight and Jim Jacobs at Godfrey Payton with Gowlings WLG acting for Miller Homes and Eversheds Sutherland acting for Taylor Wimpey on the transaction.

Photo shows: The 61-acre site just outside Stratford upon Avon at Bishopton, is one of Warwickshire’s largest sales by a multi-landowner group.

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For more information on Lodders’ Real Estate team, please get in touch on 01789 293259, or via email.