Strategic land company, Richborough Estates, in conjunction with Wells McFarlane, has completed the sale of a six acre site in the village of Frisby on the Wreake, near Melton Mowbray in rural Leicestershire to housebuilder, Bellway Homes.
Richborough Estates had previously acquired the 6.7 acre (2.7 hectare) plot, which sits on the eastern edge of the village, from a private landowner via Trevor Wells of Wells McFarlane in Lutterworth.
Richborough Estates secured outline planning permission for residential development on the site.
Bellway Homes will now deliver the scheme, which has been masterplanned for a combination of 2, 3, 4 and 5 bedroom family homes to reflect the existing character of the village.
The plans are for a low-density development including areas of landscaping and open green space, and forty per cent of the homes will be affordable.
The development will help to fulfil Melton Borough Council’s requirement for new homes in Frisby on the Wreake and will contribute to the requirement for 6,125 new homes needed in the wider Borough by 2036.
As a strategic land company, Richborough Estates acquires parcels of land, takes them through the planning process to secure outline consent and then sells them on the open market to housebuilders.
Steve Louth, Regional Director, Richborough Estates, said: “A good deal of our schemes are in locations such as this, where there has been little or no development for decades. Whilst the scheme is relatively modest in scale, it is absolutely vital that we continue to deliver housing in rural locations such as this to retain and enhance local schools, facilities and public transport services.
“Melton Borough Council has a significant requirement for new homes by 2036, as outlined in its emerging local plan and this development will go some way towards helping them achieve this objective.”
A national company, Bellway Homes has grown from a small family-owned business to one of the most successful housebuilders in the UK.
Tim Pyne, Land Manager for Bellway Homes, said: “We’re delighted to have worked alongside Richborough Estates and to have purchased this fantastic piece of land in Frisby on the Wreake.”
“There is an identified need for new homes to be built in the borough, so we’re pleased to contribute towards fulfilling that need. The homes we plan to build will provide a real mixture of styles, to suit many different types of buyers.
“We look forward to now working alongside the council to create a development which will be highly beneficial for the local community.”
The village of Frisby on the Wreake is 3.5 miles from Melton Mowbray and 13 miles from Leicester.