Nottingham-headquartered Barratt Homes North Midlands will build 310 new homes at a development in Beeston, near Nottingham, after purchasing 20 acres of land for redevelopment.
Located off Technology Drive, in Beeston, the brownfield site will comprise a collection of two-bedroom apartments and two-, three-, four- and six-bedroom homes.
Planning permission for the homes was granted by Broxtowe Borough Council last year following an application by the site’s previous owners Chancerygate and Bridges. Barratt Homes has already started work on the development and its sales centre on the site is expected to be open by February 2020.
The site was purchased from a joint venture between industrial property developer and asset manager Chancerygate and specialist sustainable and impact investor Bridges Fund Management for an undisclosed sum.
Barratt Homes North Midlands Managing Director, Chris Southgate, said: “We’re thrilled to have started work at our upcoming Beeston development and we’ll soon be providing a range of new homes for prospective buyers in Nottinghamshire. In addition to delivering a broad range of properties, we look forward to offering a financial investment as part of our commitment to this growing community.”
Chancerygate Head of Asset Management, Rory Finnan, said: “Our deal with Barratt Homes highlights the attractiveness of this location in Beeston as place to live and work. We are pleased to enable the redevelopment of this brownfield land to bring much-needed housing to the area. The combination of new homes from Barratt and our office and industrial scheme will create significant regeneration and employment opportunities to Beeston.”
The vendors Chancerygate and Bridges were advised on the deal by the Nottingham office of property agents Savills.