A multi-million pound land sale has been completed to pave the way for a 400-home development which is expected to support the creation of 800 jobs.
Property consultancy Fisher German has sold the Stonebridge Lane site to Barratt and David Wilson Homes on behalf of a long-time client.
Fisher German was awarded the 40 acre site for housing in the Mansfield District and Harworth Group was granted planning permission outlined for 400 homes in 2018. A Request for Reserved Questions has been submitted by Barratt and David Wilson Homes in 2020.
Matthew Handford, Senior Development Expert at Fisher German, said: “We are delighted to have reached an agreement with Barratt and David Wilson Homes which will meet the great need for market and affordable housing in the Nottinghamshire region.
“It was a pleasure to work with the Barratt Land Department and David Wilson North Midlands on a complex sales contract and I am delighted to see the development come to fruition, with planning permission granted in September 2018.
“We have generated strong interest in the site throughout the process, which reflects the positive market conditions for building land at the moment, underpinned by strong sales rates, opportunities to acquire restricted land and rising housing prices.
Barratt and David Wilson Homes is expected to begin work on the site, with the first show homes due to open in February 2023.
The development will consist of a mix of two, three, four and five bedroom properties, 20% of which are expected to be affordable homes.
Mark Cotes, Managing Director of Barratt and David Wilson Homes North Midlands, said: “The acquisition of the land for our development at Market Warsop is fantastic news as it brings the delivery of 400 much-needed new homes closer and closer. of Nottinghamshire real estate.
“The development plans 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 support around 800 jobs for local people.”
Harworth was appointed land developer.
Tim Love, Chief Executive of Harworth Group, added: “The proposed development at Market Warsop will have a significant beneficial impact on the area and nearby communities.”