Developer Abbey New Homes has acquired a 15.49 acre former agricultural site on the northern edge of Stoke Mandeville in Buckinghamshire with planning permission for a new residential scheme.
Acquired from private landowners in an off-market deal for just over £12m, the site has outline planning permission for up to 117 new homes, of which 30% will be allocated to affordable housing. It will also contain an informal public space and children’s play area after Gladman Developments worked with the agents and landowners to gain planning permission before bringing the site to the open market.
The site is approximately 2.5 miles south of Aylesbury town centre and within walking distance of Stoke Mandeville train station. Aylesbury received ‘Garden Town’ status from the government last year and had a further 15,000 new homes proposed as part of an additional £2.5m cash injection into garden towns unveiled by Communities Secretary Sajid Javid last October.
Carter Jonas advised the selling consortium. James Bainbridge, head of planning & development at Carter Jonas, said: “We identified the development potential of this well-situated site and negotiated a number of agreements to facilitate a planning permission. This included a collaboration agreement between the three landowners and a subsequent promotion agreement with Gladman. It generated a lot of interest during the informal tender process, with eleven housebuilders coming forward with a bid. We were able to maximise the value of the site for the landowners with a sale at above asking price.”