On behalf of three private land owners, we were instructed to identify a suitable development partner to promote circa 570 acres of greenfield land adjacent to Junction 12 of the M40 motorway in the district of Stratford-on-Avon.
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A joint promotion agreement was entered into with Commercial Estates Group and The Bird Group to promote the combined land holding for a proposed new settlement. A land owner collaboration agreement was simultaneously structured enabling equalisation of future receipts as the development is delivered.
A draft allocation has been secured in the Stratford-on-Avon strategy for a new community for up to 3,000 new homes plus 240 acres of employment land adjoining the global research & development headquarters of Jaguar Land Rover.
A resolution to grant outline planning permission was subsequently obtained for the first phase comprising up to 2,000 dwellings and ancillary uses, including a school, village centre and a managed ecological area. Savills is currently advising on the delivery of the consented scheme.
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