Inland Homes has exchanged contracts for the sale of 94 plots at its flagship development site at Wilton Park in Beaconsfield to Bewley Homes, a specialist in high-quality developments. Avison Young acted on behalf of Inland Homes on the disposal of the land.
The sale of the 94 plots to Bewley Homes is part of phase one and two of the project, which totals 147 units including 27 per cent affordable housing. Inland Homes submitted the reserved matters application for these first two phases in June 2020 with approval anticipated in September 2020.
Inland Homes achieved outline planning consent for the entire 100-acre site in September 2019. The entire development will see the delivery 304 new homes plus 46 retained Service Family Accommodation dwellings and 18,622sqft of non-residential space.
The market town of Beaconsfield has long been a London-commuter favourite, with trains to London Marylebone in as little as 23 minutes and easy access to junction 2 of the M40 motorway. Top-rated schools, independent shops and cafes and its proximity to the Chiltern Hills add to the town’s sustained appeal.
It is no surprise then that Wilton Park has been described by Savills as the best residential development opportunity in southern England and has attracted an estimated gross development value of £288m.
Inland Homes has been committed from the outset to developing Wilton Park to a standard that is in keeping with the area and building a thriving community. It appointed Adam Architecture, a company that specialises in traditional design and sympathetic development, in late 2019 and has undertaken extensive community consultation on the plans for development, with community feedback helping shape the proposals.
In addition to the new homes and commercial space, Inland Homes will also deliver a new two-hectare public park; expanded, purpose-built premises for the nursery school; and permanent sports pitches and facilities for the Local Football Club youth teams. It will also complete the final section of the A355 Beaconsfield relief road, easing traffic flow in the local area.
The sale of 94 plots to Bewley Homes is in keeping with this commitment to delivering a flagship development. Operating in the south of England, Bewley Homes has been creating stunning developments since 1991. The housebuilder has a reputation for considering carefully about each location and how its homes will settle into the surrounding area.
Commenting on the sale, which is expected to complete in September this year, Stephen Wicks, Chief Executive at Inland Homes, said:
“Wilton Park is without doubt the best site in the south-east of England and we have been looking for a developer that shares our vision for the site and has the skill to do it justice – one that can support us in creating a spectacular new landmark destination for Buckinghamshire.
“We are delighted that Bewley Homes, a developer who has a track-record of building high-quality homes sympathetic to the surrounding area has come on board with the purchase of 94 plots.
“We found Bewley Homes very professional to work with over this period of due diligence and following the exchange of contracts, we look forward to completing the sale in September this year.”
Andrew Brooks, Managing Director of Bewley Homes, said:
“We are delighted Inland Homes selected Bewley Homes to purchase the first phase of Wilton Park. This was based on our reputation and track record of getting the deal done in a tight timeframe, as well as our ability to deliver fantastic new homes. This will set the tone of quality for the wider development.
“With the support of my executive board, shareholder, Lloyds Bank and Inland Homes, all parties successfully collaborated to secure this deal in just three weeks on what was a complicated transaction.
“Wilton Park is a high quality, design-led scheme in a great location set in beautiful parkland. We are now looking forward to starting construction on site early in the new year on what will be an exciting flagship site for Bewley Homes.”
Barney Hillsdon, Principal at Avison Young commented:
“The site attracted significant interest from the market, for what is an outstanding opportunity to deliver a high-quality first phase at this fantastic development.”