The Crown Estate has reached an agreement with Barratt and David Wilson Homes for the sale of land north of Bingham.
The 225-acre site, which has outline planning permission for 1,050 homes and commercial space, forms part of a substantial extension to the north of the Nottinghamshire town.
The Bingham North masterplan sets out plans for a new community to the north of the town, with space for new local shops, a primary school, a community centre, and public space including a park and lake.
The masterplan was adopted by Rushcliffe Borough Council in 2013 and details out how to meet local housing and infrastructure needs over the next 10 years. The new homes will be a short walk from the town centre, connected by a network of footpaths.
The town benefits from excellent transport links, sitting on the intersection of the A46, which leads to Lincoln, and the A52 to Nottingham, nine miles to the west.
Savills advised The Crown Estate on the sale and the housebuilder is expected to start on site in 2018.
Steve Melligan, Strategic Land Manager at The Crown Estate, said: “Having successfully promoted the site through the planning process, we are looking forward to seeing Barratt and David Wilson Homes take it on, delivering much needed new homes for the local community”.
Chris Southgate, Managing Director at Barratt and David Wilson Homes North Midlands, said: “As a five star housebuilder we are delighted to announce that we will be bringing much-needed, quality built homes to the area of Bingham. We have had great success with building new homes across Nottinghamshire in the past and look forward to welcoming residents to our newest development.
“These new homes are the first step in bringing forward a carefully thought-through plan for the area north of Bingham. We are looking forward to working with The Crown Estate, Rushcliffe Borough Council and the local community to ensure they are delivered in a timely and efficient way that is sensitive to the town’s needs.”
Ben Glover, Head of Development at Savills Nottingham, said: “This has been a culmination of 18 months of hard work since Savills was appointed to act for The Crown Estate. Our team has removed a number of risks and clarified the requirements of our purchaser. Barratt Homes has made a commitment to purchase the entire site following a competitive bidding process which generated the best possible land receipt for our client whilst ensuring the delivery of new homes for Bingham.”