Commercial property agency and strategic land development specialists Mather Jamie has completed the sale of prime development land in Normanton on Soar to Nottingham based company Sheppard Developments.
The purchase includes a 1.24 acre site which comprised of a farmhouse, stables and barns along with a further 1.08 acre adjacent field which was made available by separate negotiation. Together, the combined area of the site will provide a mix of new build residential houses alongside conversions of the existing barn and agricultural buildings.
When completed, the new development will comprise a 6-bedroom period farmhouse with detached double garage, two large 3 bedroom bungalows within a former stable block, a new 4 bedroom detached house with new stable block and paddock, and a 5 bedroom luxury barn conversion with detached double garage.
Commenting on the purchase, Ben Sheppard from Sheppard Developments said, “All properties will be finished to an extremely high specification with construction expected to start in May 2021. Thanks to our great team of advisers and the pragmatic approach adopted by Mather Jamie we are really pleased to have been able to secure such a fantastic site on which to create our next luxury development.”
Mather Jamie, who are based in Loughborough, acted on behalf of the landowner and worked with local planning consultants to bring the scheme forward. The company also prepared marketing documentation, promoted the development on the open market and arranged site visits for all interested parties.
Commenting, Gary Kirk, Senior Associate Director at Mather Jamie added, “Normanton on Soar is a very attractive village and popular location due to its close proximity to all major East Midlands transport routes. We were delighted to be able to advise our client, who does not live locally, on the best way to unlock the latent development potential within the site so that the site could be promoted cohesively through the planning system in order to maximise its attractiveness to developers.”
Funding for the deal was provided by Matthew Gatter from Gatter Capital. Other advisers to the purchaser included, legal advice from Vik Moothia and Alison James-Moore of Elvin Moore Solicitors in Derby, Ben Taylor MRICS from Leicester based property consultants Space, and Mike Tuck from Richardson Hall Construction in Mansfield.