A partnership between Linden Homes and Strata Homes in Beverley, has been shortlisted for Deal of the Year at the Yorkshire Residential Property Awards 2019.A partnership between Linden Homes and Strata Homes in Beverley, has been shortlisted for Deal of the Year at the Yorkshire Residential Property Awards 2019.
The deal featured the joint acquisition of a 90-acre residential development site between Strata Homes and Linden Homes East Yorkshire. It will deliver 900 homes and a 10 acre park-and-ride scheme plus a bus link to Beverley town centre. The gross development value is over £180m.
“The companies have worked on the scheme for over four years and it involved six different land owners, five land agents and seven solicitors,” said Linden Homes East Yorkshire Land and Development Director Matthew Barker.
“Some landowners had historical issues and to pull the overall site together was extremely complex and involved careful negotiation between the parties involved in the project,” added Matthew.
The first legal agreement was entered into in November 2015 and there have been several re-negotiations on the land contracts to enable the project to progress. Initially the site was to be secured by option agreements, however to fix a commercially acceptable position, most of the options were converted to fixed price land contracts.
The planning application was submitted in August 2016, however due to the complexity of the negotiations, it wasn’t until early 2018 that the legal agreements were renegotiated to align with the planning requirements. Planning was granted in August 2018.
The approved scheme will deliver:
Work started on the scheme in March 2019. The first homes will be occupied on the site around February 2020.
“The shortlisting of this deal is well deserved and reflects the determined, creative and imaginative efforts of all concerned to get the project over the line and turn the plan into reality,” added Matthew Barker.
The awards will be announced at a glittering black tie event at Bowcliffe Hall, Bramham on Thursday (October 10) in front of 700 Yorkshire property professionals.
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09 October 2019
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