Land specialist sells Wiltshire affordable housing site to Sovereign

Land specialist Terra has sold a site in Wiltshire to Sovereign Housing Association for an undisclosed sum.The 2.26 ha (5.6 acres) site, located on the outskirts of the historic market town of Melksham, has Outline Planning Permission for 50 new affordable homes, all of which will now be delivered by Sovereign.A Reserved Matters submission can now be submitted to Wiltshire Council to determine the detailed design of the affordable homes.Jordan Langdon-Bates, Land and Development director for Terra, said: “It is very rewarding to see this strategic land project reach this major milestone.“Given the high demand for affordable housing in this part of Wiltshire, it has attracted significant market interest and we are pleased to have achieved an efficient land sale to Sovereign Housing Association.“Thanks to the hard work of all involved, the legal process has only taken six weeks to reach Exchange.“The next stage is for a Reserved Matters Application to be lodged with Wiltshire Council.“Once this has been reviewed and approved, work will be able to start on site to address the local affordable housing needs, which we identified lacked a sufficient pipeline when first considering this land opportunity.“Given the shortage of new homes in the current marketplace, we would urge anyone who is looking to maximise their land value to get in touch with us to explore the opportunities available.”Terra secured Outline Planning Approval for the scheme at Appeal earlier this year.It was recognised as part of the Appeal process that Wiltshire Council cannot currently demonstrate a five-year housing land supply.It was also acknowledged that the Inspectorate affords significant weight to the affordable homes provided as part of this proposal, particularly as waiting times for families to access affordable homes across the District currently ranges from 3.1 years to 10.7 years, for two-bedroom and four-bedroom properties respectively.The tenure split will be determined by Sovereign Housing Association and is likely to comprise homes for both affordable rent and shared ownership.The accommodation mix will comprise one-bedroom apartments and two-, three-, and four-bedroom family houses.It has been identified that a total of 42,000 new homes are required across the county of Wiltshire by 2026.Terra currently controls 21 sites, with around 830 acres of residential land.