A 2.7-acre site in Warwickshire has been sold for more than £2.3m in a deal that paves the way for a new affordable housing scheme.
Countryside Properties (UK) Ltd and social housing provider Midland Heart Ltd have snapped up the site, which is located on the corner of Waterloo Road and Wellington Road in Bidford-on-Avon, in a deal brokered by property consultancy John Truslove.
The site was sold conditionally on planning being granted, and following an appeal, it will now be developed to provide 50 affordable homes.
Joint managing director Ben Truslove acted as an expert witness in the planning appeal and prepared a formal marketing report for the planning inspector.
He said: “This site was formerly used for industrial purposes, but the buildings had been demolished and the land cleared a number of years ago.
“While some local councillors and residents had hoped that the site could be sold to a supermarket operator such as Aldi or similar, there was a lack of appetite from retailers for the site.
“It’s a site conveniently positioned in a mixed use area with commercial and residential uses in the vicinity, including the new Avon Meadows housing estate.
Clare Swinnerton of law firm Gateley acted for St Francis Group, while David Perry of Shoosmiths LLP advised Countryside Properties (UK) Ltd.