Despite challenging market conditions our development agency team are thrilled to have successfully exchanged contracts on a deal which will bring a development of 50 homes to a site off Iveshead Road in Shepshed, Leicestershire.
Acting for the landowner we exchanged the sale contract to housebuilder Wain Homes following land promoter Rainier Developments successfully achieving planning permission on the six-acre site. This followed a tender process to identify Wain Homes as the preferred purchaser and we quickly negotiated detailed heads of terms. Contracts were exchanged in just three weeks, which was faster than anticipated.
Charles Barton, Senior Surveyor at Fisher German, said: “Despite the challenging economic climate, this latest transaction shows deals can and are still being done. Thanks to our ability to design and implement disposal strategies that are robust, add maximum value for our clients and are focused on delivery, and working with Josh Sinnett and the Rainier team who delivered a clear planning permission and sale pack of legal and technical information for housebuilders to utilise enabled us to exchange contracts quickly. Excellent communication between all parties and their respective Solicitors was achieved and we are delighted to have played a key role in bringing this site forward.”
Josh Sinnett, Managing Director of Rainier Developments, added: “We are pleased to have agreed the sale of the land at Shepshed to Wain Homes which will help support their ambitious growth plans across the Midlands. Having promoted the land on behalf of the landowner since 2019 the site will provide much-needed family housing to the local area. Luke Brafield and Charles Barton at Fisher German who acted on behalf of the landowner were fantastic to deal with throughout the disposal process as were Ben Osborne and Andy Peters at Wain Homes.”
Ben Osborne at Wain Homes said: “We are delighted to have unconditionally exchanged contracts on this fantastic site for 50 new homes in Shepshed and further grow our presence across the Midlands. The fact that we exchanged contracts in three weeks shows our agility and commitment to the land market. Since the region was founded two years ago, we have secured seven sites which will deliver more than 700 much needed new homes. We are looking forward to bringing this scheme to life with our reserved matters application being submitted early in 2023.”
Caroline Pearson at Actons Solicitors acted for the landowner, Barry Fisher at SHMA acted for the Promoter, and Nina Chesworth, Legal Director at Wain Group acted for the buyer.
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