Land sold for development of more than 250 new homes near Milton Keynes
A deal worth more than one million pounds has been completed for the sale of a 45-acre site of land near Milton Keynes, where 290 new homes are due to be built.
The land, which is owned by two farming families at Newton Leys on the city’s southern boundary, was sold by BTG Eddisons to housebuilder Keepmoat Homes.
The deal, which was negotiated by BTG Eddisons, part of financial and real estate advisory group BTG, was completed in just over two years from signing the promotion agreement, through to outline planning consent for an undisclosed sum.
Director of land, planning and development at BTG Eddisons in Milton Keynes Andrew Wright said: “This is an excellent result for our clients, particularly in the current challenging market conditions.
“We have worked with the landowners from the outset, helping to establish the site's development potential, secure a promotion partner and navigate the planning process before leading the marketing and negotiations for the sale.
“The fact that we have achieved an unconditional disposal just over two years after signing the promotion agreement is a significant achievement for a scheme of this scale.”
The site has been allocated as part of the Buckinghamshire Local Plan, which is on the agenda at a meeting of Buckinghamshire Council’s cabinet tomorrow morning (Tuesday).
The authority’s cabinet will be voting on whether to approve the submission of the plan for independent examination.