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Residential Land News
FHP acting on behalf of Cawbourn Limited have completed the sale of an 8 acre site off Smithurst Road at Giltbrook to Peter James Homes.
The site, which is situated close to the Ikea Retail Park, provides 5.7 acres of developable residential land and has Planning Consent for the development of 91 houses.
The Purchasers, Peter James Homes, are part of the McCann Group owned by John McCann. Simon Gardiner the Managing Director of Peter James Homes said:
“This is an excellent site providing a buyer with quick and easy access to J26 of the M1, with the significant benefit of the Giltbrook Retail Park close by where tenants include the likes of Next, Boots, Ikea, Decathlon as well as leisure operators including Starbucks, Pizza Express and Frankie & Benny’s.
John McCann said: “We hope to be on site in 6 months time and have the first houses available for occupation by this time next year. We worked closely with David Hargreaves of FHP to conclude this deal and are delighted to have secured this “oven ready” site.
Peter James Homes, who have recently become the main sponsor of Nottingham Rugby Club, are currently on site in East Leake where we are building 28 houses and we hope to follow on with this site shortly thereafter.”
David Hargreaves confirmed the price achieved broke back to approximately £350,000 per net developable acre.