Keepmoat snaps up Derbyshire plot for £25m BTR scheme
Wise Living has disposed of a seven acre site near Langley Mill railway station, around two years after the firm gained planning permission for 119 houses.
New owner Keepmoat says it plans to start work immediate on the previously stalled brownfield scheme, which was awarded £1.36m by the East Midlands combined authority in January.
The site was marketed by Savills, who said the undisclosed-value deal was the culmination of more than 18 months of work, and demonstrated the continued depth of demand for consented schemes.
“The site attracted strong interest because the planning permission can be implemented immediately, giving Keepmoat a clear route to delivery and a defined exit strategy,” said Ann Taylor, development director at Savills in the Midlands.
“The location has many of the characteristics sought by the build-to-rent sector, including strong transport connectivity, access to employment opportunities and an established residential setting. We are delighted to have secured an outcome that will enable the site to come forward quickly and deliver much needed new housing.”
DAC Beachcroft advised Keepmoat, while Geldards represented Wise Living.
Charlotte Sargeant, Land and Partnerships Director at Keepmoat East Midlands, added: “We’re delighted to have acquired the Langley Mill site and to be working with our build-to-rent partner to deliver 119 high-quality homes for rent.
“Keepmoat is continuing to expand its footprint in the East Midlands, with Langley Mill marking our sixth development in Nottingham, further supporting the high demand for new homes in the region.”
