A site on the outskirts of Leicester has been sold to affordable housing developer Modus Partnerships in a deal arranged by specialist land development and property consultancy Mather Jamie.
The 1.61 acre former industrial site in Thurmaston had been owned by the same family for more than 70 years and although surrounded by existing homes, presented several planning challenges due to ground conditions and its brownfield site status.
Working with Whetstone-based Modus Partnerships, the team at Mather Jamie in Loughborough was able to broker the sale and help secure planning permission for 18 affordable houses. Once fully constructed the development will be operated by Midland Heart Housing Association.
Mather Jamie director Gary Kirk said: “The sale of the site to Modus Partnerships represents an excellent outcome for our client.
“The site presented significant challenges due to its previous usage and we were able to draw on our experience on brownfield development land sales to bring this to a conclusion.
“We look forward to seeing Modus transform the site into much needed new housing for the Affordable Homes sector.”
Modus Partnerships director Simon Preston said: “We are always actively seeking land acquisition and development opportunities including brownfield sites like this that are suitable for redevelopment.
“We are delighted that this deal has been completed and that we can begin to build much needed affordable housing to the area.”
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Mather Jamie said the approved housing mix off Barkbythorpe Road will be made up of five different styles of two and three bedroom houses, all constructed to a high-quality specification which, when completed in the autumn of 2023 will be made available as affordable rent and shared ownership housing.
A spokesperson from Midland Heart said: “Midland Heart provides a range of housing options, across the Midlands, that help people to live independently.
“We are really pleased to have secured this sought after site and look forward to working with Modus Partnerships to be able to offer 18 new homes in this popular location, within easy reach of both Nottingham and Leicester.”
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