Endurance Estates acted as promoter for the development and worked alongside Marshall Group Properties to secure planning permission for the site. The land was sold through Bidwells and Cheffins.
National housebuilder Bellway and Clarion, the UK’s largest provider of affordable housing, have a bilateral agreement to acquire the site which lies adjacent to Cambridge Airport. The site benefits from outline planning consent for 1,200 homes, of which 40 per cent will be provided as affordable housing as well as two new schools, retail space, outdoor areas and a community building for the new neighbourhood. The entire development will benefit from the latest measures in sustainable living and green energy.
Hannah Beamish, Partner, Residential Development, Bidwells said:
“This was a complex land disposal, completed in record timescales, which is a testament not only to the diligent and collaborative work of all involved in the transaction, but the continued buoyancy of the land market in Cambridge and the wider region. This new community will play a full part in the exciting future of East Cambridge and we expect strong demand for homes here in the coming years.
“Full credit and thanks goes to all involved; in particular Mills and Reeve and Gowlings as legal representatives of the parties, to bring the transaction to a successful and timely completion.”
Philip Standen, Managing Director of Bellway Eastern Counties, said:
“This landmark site on the fringes of Cambridge city centre extends to 138 acres and will deliver exceptional designs and a high quality of sustainable living.
“This project will deliver an entire new neighbourhood for Cambridge and will not only include sustainable homes, it will also showcase some incredible ideas that we have for the new retail and commercial spaces. It will be a development that everyone will rightly be proud of. We look forward to working with the Greater Cambridge Shared Planning Authority and other key stakeholders as we work towards a start on site in 2022.
“Our great thanks also goes to the landowners, Marshall Group Properties, Endurance Estates and the White Family as well as joint agents Bidwells and Cheffins and legal advisors Gowling WLG and Mills and Reeve."
Richard Cook, Group Director of Development for Clarion Housing Group, said:
“Cambridge is one of the most vibrant cities in the country and I am pleased that our joint venture has taken the first step towards delivering a project of great ambition and scale.
“I am particularly proud that this will be a mixed and sustainable community in every sense, with homes of all tenures and a commitment to a sustainable community.”
