Land promotion portfolio is at a record high, with over 64 sites, 2,063 acres and 12,051 plots.
Planning consent granted or resolved to grant on 433 dwellings across 4 sites. In addition consent has been restored for 400 dwellings following a successful Court of Appeal decision.
Land for 1,640 dwellings has been allocated, or are emerging allocations in Local Plans.
Of the 12,051 dwellings identified 735 are at Myton Green, Warwick. An outline planning application has been submitted for 640 dwellings at Kenilworth, a site allocated in the adopted Warwick District Local Plan.
Disposals of 5 sites have totalled 102.72 acres and 714 new homes to Bellway Homes, Cala Homes, David Wilson, Optivo, Avant Homes and Miller Homes (both at Myton Green), with a total gross land value of £61.5 million.
The average price per square foot of dwellings for private sales by our customers is £340 reflecting the focus on areas of high demand. This leads to a focus on the South Midlands, South, South East and East of England. Catesby continues to be alive to opportunities elsewhere where the minimum financial return criteria are met.
The sale of 918 dwellings across 3 sites has been delayed by the decision of third parties to judicially review the planning consents received.
Rebranding to Catesby Estates and development of in-house marketing resources has resulted in increased brand awareness and enquiries direct from landowners. This has been complimented with early engagement with local councillors, residents and neighbourhood plan groups within the planning process, to ensure stakeholders view potential development as a positive way of enhancing their community.
We will continue to target sites with high returns on capital invested with a focus on larger sites in areas of high housing need, which meet minimum price per square foot criteria.
Evolve planning strategy to promote sites through the Local Plan process, gaining allocation and therefore minimising planning risk where possible.
Continued growth in the in-house land team resources, to ensure increased supply of land development opportunities to meet the wider strategic business objectives.
Seek partnerships for infrastructure delivery and maximisation of land value.
It’s been a busy few months for Catesby Estates plc, with a number of land sales, land promotion appointments, public consultations and planning permissions awaiting decision:
Three sales have been completed with a further 3 in the pipeline; 7 acres for 70 new homes in Wilstead was sold to Bellway Homes, 6.5 acres for 55 homes in Alford was sold to Cala Homes and a further 15 acres in Abingdon for 200 homes was sold to David Wilson Homes.
The average affordable housing provision was 38% across all three sites demonstrating our recognition of the current housing crisis and the need to provide a wide range of housing.
Our land team continues to be busy with new sites, with recent residential promotion deals secured at Fleckney; 37 acres, Shefford; 10.6 acres, Melksham; 74.9 acres and our freehold purchase of a 13.8 acre site in Wylde Green.
The delivery of strategic infrastructure work to support the Myton Green residential development of 790 new homes in Warwick is gathering pace and is due to commence later this summer lasting around 56 weeks.
We have worked in partnership with the landowners Europa Way Consortium, to look at ways of maximising land value by the creation of serviced land parcels through the provision of infrastructure, whilst also developing a site that is sensitive to the area in which it sits. In time, the development will deliver six equipped play areas, a network of new footpaths and cycleways along with the planting of more than 250 specimen trees set in around 20 acres of green open space. Serviced land parcels are already under offer to two housebuilders.
Our in-house planning and technical teams continue to work hard to ensure stakeholders see these developments as a positive part of their community. We interact with local communities as soon as possible within the planning process, working closely with planning officials and councils, striving for excellence in communication to inform and consult with all parties at each stage of the process.
This was demonstrated with over 400 local residents turning out to view our proposals for 690 new homes, including 40% affordable housing in Kenilworth, with the majority of residents supportive and recognising the need for new homes in the area.
In addition to our site work, we have been key founder members of the Land Promoters and Developers Federation (LPDF) which launched spring 2018. We want to dispense with some of the myths and misconceptions around the role of land promoters and developers by highlighting the expertise and track record of our members as well as through research relating to the sector as a whole.
We are looking for new sites, so if you think your land may have development potential, get in touch; 01926 836910 / firstname.lastname@example.org