WebbPaton have sold a 515 dwelling residential development site to Legal and General Homes. This 78-acre site in Shrivenham, Oxfordshire was sold by WebbPaton for two landowning clients who entered into a Promotional Agreement with Welbeck Strategic Land. The development had outline planning for 515 new homes. It represents the third major site being brought forward by Legal & General Homes, bringing its housing pipeline to over 3,000 new homes. Construction for the first phase of new homes is due to start at the end of next year. The site is large enough to provide a full range of housing options, from one-bed apartments to four-bed detached family homes.
180 of the homes will be much-needed affordable housing and Legal & General will look to use modular construction from its factory in Leeds for this element of the site. By using traditional building techniques alongside modular construction, the team will be able to accelerate delivery on the ground. Legal & General has been involved in housing activities for nearly 20 years. It is committed to addressing the UK’s chronic housing shortage through delivering high-quality sustainable and enduring homes with plans in place to build more than 80,000 new homes over the next five to ten years.
James Lidgate, CEO of Legal & General Homes, commented: “As well as addressing the chronic shortfall of housing in the UK, Legal & General Homes is looking to regenerate the UK’s landscape for the better and build vibrant communities where people want to live, such as this sought after location in Oxfordshire. Using Legal & General’s long term capital, we are seeking to create a legacy that we are proud of. To do this, we want to challenge public perceptions of new homes by delivering a product that surpasses buildings of the past in terms of quality, efficiency and comfort, while ensuring the homes are carefully integrated into the community, providing much enhanced public realm, facilities and infrastructure.”
Alistair Watson, Senior Partner of Welbeck Strategic Land commented: “We are delighted to have secured a planning consent on behalf of the landowners and to have concluded a sale to Legal and General Homes and jointly with Legal and General Homes to have contributed towards delivering homes to alleviate the current housing shortage.”
George Paton of WebbPaton commented “This is WebbPaton’s 5th major residential development site sale in the last 12 months which include selling 200 dwellings at Faringdon, 350 dwellings at Blunsdon, 116 dwellings at Shrivenham, 112 dwellings at Steventon and 87 dwellings at Swindon. We have acted for the two landowners throughout from when the land had no planning chance all the way through planning. This sale shows the benefit of landowners entering into a Promotional Agreement rather than an Option Agreement. We are always happy to act for any landowner who needs advice on how to promote their land for residential development. Now is a good time to bring forward land as the Swindon and the Wiltshire Local Plan Reviews are now underway.”