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Barratt Homes to bring 310 new homes to Beeston, near Nottingham

Nottingham-headquartered Barratt Homes North Midlands will build 310 new homes at a development in Beeston, near Nottingham, after purchasing 20 acres of land for redevelopment.

Located off Technology Drive, the brownfield site will comprise a collection of two-bedroom apartments and two, three, four and six-bedroom homes.

Planning permission for the homes was granted by Broxtowe Borough Council last year following an application by the site’s previous owners Chancerygate and Bridges. Barratt Homes has already started work on the development and its sales centre on the site is expected to be open by February 2020.

The site was purchased from a joint venture between industrial property developer and asset manager Chancerygate and specialist sustainable and impact investor Bridges Fund Management for an undisclosed sum.

Barratt Homes North Midlands managing director, Chris Southgate, said:

“We’re thrilled to have started work at our upcoming Beeston development and we’ll soon be providing a range of new homes for prospective buyers in Nottinghamshire. In addition to delivering a broad range of properties, we look forward to offering a financial investment as part of our commitment to this growing community.”

Following the sale, Chancerygate and Bridges retain an office and light industrial development adjacent to the residential land called Beeston Business Park. Occupiers include the world’s largest domain name registrar GoDaddy and subsidiaries of digital transformation group Atos.

Chancerygate head of asset management, Rory Finnan, said:

“Our deal with Barratt Homes highlights the attractiveness of this location in Beeston as place to live and work. We are pleased to enable the redevelopment of this brownfield land to bring much-needed housing to the area. The combination of new homes from Barratt and our office and industrial scheme will create significant regeneration and employment opportunities to Beeston.”

Barratt Homes North Midlands has been awarded the maximum five-star rating from the Home Builders Federation (HBF) for the tenth year in a row and recently celebrated its 60-year anniversary.

Savills development services director, Ann Taylor, added:

“We’re very pleased with the successful outcome of this land disposal, which will have a significant impact on the immediate environment, providing high-quality housing in an attractive landscaped setting. The planning consent also included the creation of a new station car park and Barratt Homes will be providing a substantial sum towards affordable housing, and a community building and play area on site.”

Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide. The company’s asset management team currently manages a diverse £220m portfolio of assets, with 4.9m sq ft of space across 355 units, representing £14m in rental income.

The vendors Chancerygate and Bridges were advised on the deal by the Nottingham office of property agents Savills.

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