BEWDLEY LAND PARCEL SOLD TO ELAN HOMES FOR 100-HOME DEVELOPMENT
Residential land agents at Harris Lamb in partnership with Hawksmoor sold an eight-acre site in Bewdley earlier this year to developers for above the guide price of £7.5m.
The land parcel off Stourport Road was originally acquired on behalf of EPIL, with the 8.25-acre site subsequently being granted outline planning permission for 100 homes by Wyre Forest District Council.
Elan Homes has now purchased the site, with construction expected to begin further to reserved matters approval being obtained.
James Willcock, of Harris Lamb’s residential Land team, said: “This particular development opportunity has spent years moving through the planning system and we are delighted that it will now be brought forward to deliver high quality homes in a desirable part of the Midlands.
“Having most recently been used for agricultural purposes, this extensive site adjoins the former Sandbourne House garden wall and the Riddings Brook, and is surrounded by mature landscaping and residential homes. Located within a 15-minute safe walk from the town centre, the land parcel was released from the green belt after being allocated in the Wyre Forest District Local Plan due to its suitability for residential redevelopment.
“Further to marketing the opportunity with a guide price of £7.5m, we were overwhelmed by the interest from developers keen to deliver the 100-home scheme, around 25 per cent of which will be reserved as affordable housing. Working seamlessly with Hawksmoor, we swiftly progressed to best and final offers from interested parties, where Elan Homes unconditionally secured the site for a figure above the guide price.
“Elan Homes is committed to delivering a new community within Bewdley, with the scheme including a new children’s play area, improvements to the local leisure centre, a bus stop and travel provision to serve the new residents who will benefit from these properties. The development will bring much-needed housing to the area, many of which will fall within the affordable homes bracket, to meet the ongoing demand from residents keen to call Bewdley home,” added James.