Land specialist Terra has completed the sale of a five-acre site in Aston, West Oxfordshire to social housing provider Stonewater.
Terra successfully secured planning permission for 40 homes in August, following an appeal, with the inspector citing an acute need for affordable housing in the local area. The build contract for the development will be delivered by Terra's sister company, Living Space.
Located off Cote Road, the site is five miles south of the historic market town of Witney. The UK’s largest RAF base, Brize Norton – a major employer in the area – is located nearby. Village amenities, also just a short walk away, include a primary school, pub, village hall, community shop and tearoom.
Jordan Langdon-Bates, Land & Development Director of Terra said: “This deal marks the successful completion of this project’s lifecycle for Terra but it is, of course, simply the first step towards making these new homes a reality for the West Oxfordshire community.
“We’re pleased to be leaving this vital housing infrastructure project in the hands of Stonewater and Living Space, both of which have fantastic track records in delivering high quality, affordable homes in the areas in which they’re most needed. Both partners approached this sale pragmatically and diligently, ensuring the construction of these new homes could get underway as swiftly as possible.”
Terra is an experienced residential land specialist, which enters into agreements with landowners and then pursues, funds and secures an agreeable planning permission. Part of Real Estate Capital Holdings, the business benefits from the financial resources to secure land with or without residential planning consent to assist landowners looking for a quick sale process.