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News Release

Nottingham

JLL Sells Major Residential Development Site

First phase at Top Wighay Farm sold to David Wilson Homes


Nottingham,  12 January, 2015 - The Nottingham office of global real estate advisor, JLL, has sold the first phase of one of the region's largest development sites to David Wilson Homes.

The 15 acres of residential development land in Phase One at Top Wighay Farm in Hucknall, was sold for an undisclosed sum and will provide a sustainable new urban extension to Hucknall, as part of a sizeable new mixed-use development scheme extending over some 156 acres of County owned land.

Creating a new gateway to Top Wighay Farm, planning will be submitted for a scheme of 120 executive family homes on the residential development land.

Matthew Smith from the Nottingham offices of JLL said
"The acquisition of the site by David Wilson Homes reflects the current house-builder appetite for development land, driven by a buoyant property market in the East Midlands.  Recent announcements by the Government on stamp duty and continuation of incentives such as Help to Buy is continuing to fuel this activity."

This is the second major site to be sold by JLL in Hucknall.  The first was a 12.5 acre site at Broomhill farm, which subsequently got planning for 141 executive homes.

John Reddington, managing director of David Wilson Homes East Midlands said: "Demand for quality new homes in this part of Nottinghamshire remains strong. The acquisition of land at Top Wighay Farm presents us with an excellent opportunity to continue developing in Hucknall, where we have enjoyed strong sales success over a considerable period of time.”

The town of Hucknall has been identified as a Key Growth Point for housing provision.  The town is located close to the premium commuter villages of Linby, Papplewick and Ravenshead.  It offers exceptional connectivity with excellent rail, tram and road links and access to junctions 26 and 27 north and southbound of the M1.”

The site will become a major residential settlement with its owns services and amenities, as well as delivering a major new business park for Hucknall. The first phase of the employment land is expected to replicate the success of near by Sherwood Park and attract inward investment and job creation..