A 2.67-acre site in Bidford-on-Avon has been sold for £2.35 million by property consultants John Truslove on behalf of St Francis Group, following a comprehensive marketing campaign.
The deal was secured by Countryside Properties (UK) Ltd and leading social housing provider Midland Heart Ltd, after what Ben Truslove, joint Managing Director of John Truslove, revealed was a hotly contested sales process, with bids going to best and final offers.
The sale was agreed upon conditional on planning being granted. The land on the corner of Waterloo Road and Wellington Road will now be developed to provide 50 affordable housing properties following an appeal.
Ben Truslove acted as an expert witness in the planning appeal and prepared a formal marketing report for the Planning Inspector.
He said: “This site was formerly used for industrial purposes, but the buildings had been demolished and the land cleared a number of years ago. While some local councillors and residents had hoped that the site could be sold to a supermarket operator such as Aldi or similar, there was a lack of appetite from retailers for the site.”
He also said that the development on the site would provide much-needed affordable housing within walking distance of the village centre.
“It’s a site conveniently positioned in a mixed-use area with commercial and residential uses in the vicinity, including the new Avon Meadows housing estate.”
St Francis Group was represented by Clare Swinnerton of law firm Gateley plc, while Countryside Properties (UK) Ltd sought advice from David Perry of Shoosmiths LLP.