Warwickshire development site sold in major eight-figure deal

Published by

Nicky Godding

A development site in Warwickshire with planning permission for 850 homes has been sold in a major eight-figure deal.

Property consultancy Fisher German has sold the land at Callendar Farm, in Nuneaton, to Taylor Wimpey and Jelson Homes in a deal – completed despite the Covid-19 crisis - which includes more than 200 affordable homes.

Luke Brafield, of Fisher German, acted on behalf of the landowner and confirmed the development will also provide millions of pounds worth of contributions towards local services and amenities.

He said: “The sustainable plan for the site includes a local centre, new primary school and more than £14 million in contributions to open space, sport and recreation, highways improvements, education, police infrastructure and healthcare for the local community.

“With Nuneaton located between Birmingham, Leicester and Coventry, the site will provide much-needed housing stock in the heart of the Midlands for families and commuters, including 212 affordable homes.”

The sale comes three years after Phase 1 was sold to Jelson Homes in a deal with planning permission for 150 homes, of which 25 per cent will be affordable housing.

Fisher German advised on the disposal strategy and sale of all three phases and was able to secure the deals on behalf of the landowner despite political and economic certainty being a common theme throughout.

Luke added: “When we completed on phase 1 in 2017, Brexit was a concern for both developers and landowners but we were confident this development site in Nuneaton would be a valuable and sustainable addition for the local community.

“Of course, completion of the sale has taken place right in the middle of the Covid-19 lockdown, so it is extremely positive that we have not only completed on such a large site but also achieved an extremely good price for our client.

“The industry as a whole is experiencing uncertainty, but we were able to provide strategic advice to the landowner and devise a suitable process which helped us to secure the sale. We look forward to seeing the site develop under Taylor Wimpey and Jelson Homes in due course.”

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.