Residential developer Forge New Homes has signed on the dotted line for a seven-acre site in Pilsley, with the help of Midlands law firm Shakespeare Martineau.
Having achieved planning permission to develop a mixture of bungalows, two, three and four bedroom homes for sale and two and three bedroom homes for shared ownership and affordable rent, the developer has now completed the acquisition of the North East Derbyshire site.
This will be the first development for Forge New Homes, which operates in the Sheffield City Region and is backed by five housing associations: Great Places Housing Group, Yorkshire Housing, Together Housing Group, South Yorkshire Housing Association and The Guinness Partnership.
Jenny Walker, legal director and land acquisition specialist at Shakespeare Martineau led the deal, she said: “We are delighted to have worked with Forge New Homes on its first land acquisition and look forward to seeing the housing development take shape.
“New build plots are hugely popular and always have been; the stamp duty holiday caused a surge in activity with reservation levels being the same or higher as compared with previous years. We are really pleased to see that there is no indication that the market for new build plots is slowing down despite the combination of the SDLT holiday tapering off and the commencement of the increased restrictions on eligibility to the help to buy scheme. The new build market continues to be a robust market with confidence levels remaining high.”
The site that was previously unused farm land and required a tight turn-around on the exchange of contracts to meet planning permission deadlines.
Andy Beattie, project director at Forge New Homes said: “We are thrilled to have reached this stage of our development plans and take positive steps towards building much needed, high-quality family homes in the area.
“It’s been a challenging 12 months and a full team effort to get us to this stage, a huge thanks to our partners, designers and Shakespeare Martineau team.”
Tony Stacey, Chief Executive at South Yorkshire Housing Association, said: “We’re very pleased to see Forge New Homes starting work on this development, and it’s great to be working with our partners to increase the local supply of affordable homes. The 30 homes we’re acquiring for affordable rent and shared ownership will be lovely places to live.”
Works are expected to commence in May 2021, with properties placed on the market in the Autumn.