Acting on behalf of the landowners, the Cheffins Rural & Development team sold the land on the north west edge of Fordham village with planning consent for 52 new homes
Cheffins advised the landowners from the inception of the scheme including the appointment of the Promoter, Endurance Estates who secured the planning permission, through to marketing the site and negotiating a sale of it to Ashberry Homes. Fordham is a popular village with a wide range of services including a pre-school and primary school, two supermarkets, pubs, garden centres and a range of other community facilities. It is located just over five miles north of Newmarket, eight miles from Ely and 15 miles from Cambridge.
Jonathan Stiff, Director at Cheffins in Ely comments: “By advising the landowners throughout the whole process, we maximised the value of the land and ensured that it reached its full potential. This sale is indicative of the confidence in the market for new homes in the region and the development will go some way to help provide housing so desperately needed in the local area. The development land market has bounced back after lockdown and this site in particular generated interest from developers from across the UK. For landowners it is essential to obtain professional advice to ensure that any land with development potential is properly promoted and the subsequent sales generate their full value potential ahead of any agreements being signed.”
Commenting on the sale, Ashberry Homes’ Regional Managing Director Phil Standen said, “The purchase of this scheme in Fordham demonstrates our continued commitment to buying sites where we can profile our quality product in attractive rural villages.
“We are pleased to work with Endurance Estates and Cheffins and are committed to deliver new private and affordable homes to continue to meet the ongoing demand for family housing in Cambridgeshire, despite the ongoing pandemic.”
The site will include 40 per cent affordable housing as well as open spaces and a play area. It is also subject to a section 106 which secures monies for infrastructure including a contribution towards improvements to the A142/A1123 Fordham Road roundabout.
For further information contact Jonathan Stiff on firstname.lastname@example.org