Land in Gloucestershire with planning permission for 95 new homes has been sold in a major multi-million pound deal.
The 13.5 acre site at Tutshill Corner, Chepstow, was sold by leading development agency Fisher German on behalf of Gladman Developments and the landowners to property developer Bellway Homes after a hotly contested bidding battle.
To meet new build requirements set by Forest of Dean District Council, 40 per cent of the homes to be built will be classed as affordable housing.
Ross Jackson, Development Surveyor with Fisher German, played a key role in the sale and said interest in the site was high, but Bellway Homes showed that extra ambition to make sure the purchase went to them.
Jackson said: “We were happy that the interest levels for the site were high from the start and throughout the sale process.
“There were a lot of bids coming in but it was clear that Bellway Homes were so keen to purchase the site.
“They ended up putting in the largest bid and I have to say we were delighted with how they handled every aspect of the purchase, their plans are very clear.
“Of course we are pleased to have played our part in such a high value sale and we wish Bellway Homes the very best for this project.”
The first outline planning application submitted by Gladman Developments in relation to the site, based on the corner of Elm Road and Gloucester Road, would have seen up to 125 homes built, however this was refused by Forest of Dean District council back in 2014.
This decision was then appealed, with a follow-up application submitted for 95 homes as part of that process.
The amended application was given the go-ahead in October 2016.
Speaking about the latest progress at the site, Jackson said: “I understand that investigation works have already begun and Bellway is aiming to start building the homes by Easter.”
The site, which consists of three open agricultural fields, is situated next to both 1960s and modern housing, as well as more green land.
It is also located close to a number of primary and secondary schools, including Tutshill Church of England Primary School and Wyedean School and Sixth Form Centre.