Severn Trent, Gedling Borough Council and Persimmon Homes agree deal for new homes
Severn Trent and Gedling Borough Council have sold around 135 acres of land at Teal Close to Persimmon Homes for a development that includes much needed new housing.
The site is located approximately five miles east of Nottingham, between Netherfield and Stoke Bardolph and will include fantastic new facilities and services for the area. Alongside 830 new homes there will be new leisure areas including play pitches with changing facilities, allotments and children’s play areas for the community to use. There will also be an ecology park, together with a new community building and a new primary school, all bringing people and jobs into the area. The land was owned by Midlands Land Portfolio Ltd, the property arm of Severn Trent plc, and Gedling Borough Council.
Julie Rossiter, head of property development for Severn Trent, explains: “This is a great example of innovation with public and private sectors working together for the communities they serve and building new homes which are desperately needed in this area. We’re really pleased that by making our business more efficient, we were able to free up land to help create this development. The sale proceeds for Midlands Land Portfolio Ltd will be £21.8M, and a proportion of the resulting profits will be shared with our customers, helping to keep future water bills lower.”
Following planning approval for the first phase of the housing scheme for 199 units including much needed affordable houses, Persimmon will soon be starting work on site.
Neil Follows, managing director for Persimmon Homes Nottingham, said: “Our aim is to deliver a range of high-quality, affordable homes that will cater for first-time buyers looking to get their foot on the property ladder as well families looking for more space.
“Now the development has received planning permission, it will bring an estimated 855 jobs to the local area, providing a huge boost to the local economy.”
Councillor John Clarke, leader of Gedling Borough Council, added: “We welcome the announcement; this is another positive step forward in the development of this site. The proposed plans will lead to investment in the area, along with more affordable housing, continuing the economic prosperity of the borough.”