Residential land specialist Terra Strategic has sold a 10-acre former Green Belt site in the Nottinghamshire village of Cropwell Bishop to Bloor Homes for in excess of £5m.
Terra has worked with Rushcliffe Borough Council, Cropwell Bishop Parish Council, the Primary School and other local stakeholders to negotiate the site’s removal from the Green Belt and inclusion in the recently adopted Rushcliffe Local Plan.
Having run a planning application in parallel to the emerging Local Plan, the company then secured an Outline Planning Consent for 85 family homes and bungalows and a new access road and car park for the adjacent Primary School. 30 per cent of the homes have been designated for affordable housing.
Located on Church Street on the edge of the rural village, the residential site was previously designated for arable purposes.
With the site adjoining the local school, which had extensive access and parking issues, Terra Strategic was brought on board in 2016 to promote the Green Belt land for a quality housing scheme that delivered community benefits and a solution for the school.
Property and Planning Consultant Fisher German and AT Architecture have worked on the successful project.
James O’Shea, Managing Director of Terra Strategic said: “It is very rewarding to see this strategic land project reach this major milestone.
“Despite the amount of uncertainty in the marketplace – as the UK eases its way out of the COVID-19 lockdown – this has been a popular development opportunity and we are pleased to have achieved a very efficient land sale to Bloor Homes.
“Thanks to the hard work of all involved, the legal process has only taken six weeks to simultaneously Exchange and Complete.
“The 85 family homes and bungalows will help to meet Rushcliffe Borough Council’s housing needs, which we identified lacked a sufficient pipeline when first considering this land opportunity. The high-quality scheme that we received Outline Planning Consent for earlier this year is designed around a central village green area and is very reflective of its rural location.
“Given the shortage of new homes in the current marketplace, we would urge anyone who is looking to maximise their land value to get in touch with us to explore the opportunities available.”
Terra’s Outline Planning Consent secured a range of two, three and four-bedroom bungalows and family houses, set around landscaped drives and Public Open Space.
In order to alleviate local access and parking issues, a new car park for 36 cars will be delivered for Cropwell Bishop Primary School from a newly created access road. With the design principles of the development in place, Bloor Homes will now commence the process of seeking a Reserved Matters Planning Approval.