We are delighted to report the successful sale of our client’s land in North Essex to Hopkins Homes. The land has detailed planning permission for 100 houses and its sale price created a new benchmark for the area, showing that housebuilders remain keen to buy good sites in strong local markets.
Hawkspur acted for the landowners throughout the sale negotiations and liaised with their solicitors, Birketts. Our thanks to Grace Kerr at Birketts for her advice throughout to completion.
The sale represents the second phase of development following the sale of phase one with outline permission for 135 houses in 2017. Hawkspur also represented the landowners in the sale of phase one which had been successfully promoted by Welbeck Strategic Land to secure planning permission. Both phase one and phase two were promoted via development agreements and we negotiated the commercial terms of these on behalf of the owners and in liaison with their other professional advisers.
Notwithstanding the economic uncertainties caused by the pandemic, this latest phase two sale achieved a significant increase per plot since the 2017 sale and it is clear that the continued shortage of supply for consented sites is underpinning the housing land market.
If you own land with development potential, would be interested in knowing what your land is worth or have been approached by a developer offering terms for an option or promotion agreement.
Please contact Nick Harper FAAV MRICS at nickharper@hawkspur.co.uk and 07528 089419 for an informal discussion to see how we can help you.
