T

his was a large site that had been allocated by Plymouth City Council for residential development for approximately 130 new homes.  The site was owned by a well-known local businessman and had been in the market for well over 7 years following a fire in 2015 that burnt the factory to the ground.  The site has been cleared since 2018 and has sat vacant and many Regional & National Developers have failed to make the site viable.

The Project

I connected with the land owners initially back in 2019 and it was during ‘Lockdown in 2020’ that I started talking to a National Developer who specialised in Partnership Development along with Housing Associations.  A local Plymouth housing association had expressed an interest in the site and between us we were able to work through a development appraisal for a 100% all affordable housing scheme that allowed us to make a bid to the land owners which eventually was acceptable.

Marketing

This site was an ‘Off Market’ acquisition and I managed to set up a ‘One to One’ meeting between landowners, both sets of lawyers, Developer, Housing Association and their Employers Agent.   We managed to structure a deal which suited all parties which has now concluded.    Many Land Agents tried and failed on this site over the years, so as a team we were delighted to have got this one across the line.

Design

The site is currently in the process of going into planning and discussions are taking place with the local authority for a suitable work though by all parties.  The site will eventually yield over 100+ Affordable Homes which will be well received by the local community.

Project Outcome

Whilst the Land Sale has finally concluded the outcome is still to be decided.  Watch this space for further updates as the project works through to its final conclusion probably around 2025.