Barratt and David Wilson Homes have bought 40 acres of Nottinghamshire countryside to build 400 homes on.
The developers – which are both part of Barratt Developments – have purchased the site off Stonebridge Lane, in Market Warsop, near Mansfield. The land already has planning permission.
The deal was brokered by property consultancy Fisher German which acted on behalf of a longstanding client that owns the site. Harworth Group was also appointed to market it.
Fisher German secured the site’s allocation for housing, and Harworth Group achieved outlined planning permission for 400 homes in 2018. A reserved matters application was submitted by Barratt and David Wilson Homes in 2020.
The site was then marketed by Fisher German, receiving what it called a “good level of interest” from housebuilders due to the demand for new homes in the region.
Matthew Handford, senior development surveyor at Fisher German, which has its head office in Leicestershire, said: “We are pleased to have completed a deal with Barratt and David Wilson Homes which will accommodate the great need for both market and affordable housing in the Nottinghamshire area.
“It was a pleasure to work with the land department at Barratt and David Wilson North Midlands on a complex sale contract and I am excited to see the development come to fruition, with the outline planning permission granted back in September 2018.
“We received a strong level of interest in the site throughout the duration of the process which reflects the positive market conditions for development land at the current time, underpinned by strong sale rates, restricted land procurement opportunities and house price growth.”
Leicestershire-based Barratt and David Wilson Homes hope the first show homes will be open next February.
The development will consist of a mixture of two, three, four and five bedroom properties, with 20 per cent expected to be affordable homes.
Mark Cotes, managing director at Barratt and David Wilson Homes North Midlands, said: “Acquiring the land for our development in Market Warsop is fantastic news as it brings the delivery of 400 much-needed new homes ever closer for Nottinghamshire property seekers.
“The plans for the development 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 underpin approximately 800 jobs for local people.”
Tim Love, executive director at Harworth Group, said: “The proposed development at Market Warsop will have a significant beneficial impact on the local area and communities close by.
“We are delighted to have worked with our valued partners at Fisher German and Barratt and David Wilson Homes to promote this site, which will deliver much-needed high-quality homes.”
