DEVELOPMENT professionals based in Peterborough are seeing recent instructions to launch good quality residential land for sale in locations dotted around the rural East Midlands as indicative of the very early stages of a return to a more positive, but qualified, view of the long term development land market.
That’s the verdict of property consultancy Carter Jonas whose regional development and planning division is currently handling the sale of three, specific parcels of residential development land which have been launched to the market this autumn, with deadlines for bids all concluding before the end of the year (2012).
Carter Jonas acknowledges that the land for sale – with its combined total of just under 24 acres (23.81 acres) – does not signal a return to the ‘boom times’ by any measure.
But it does point to the fact that each of the three parcels is being sold with either outline residential planning permission or, in the case of 0.7 acres in Thrapston, strong and favourable indications from the relevant planning authority of support for residential use.
Michael Hudson, partner, Carter Jonas (above) says: “There is a marked improvement in the land market, with developers keen to secure residential building land in the growth areas of Cambridgeshire, Northamptonshire and Leicestershire.
“We are well placed to service this requirement with three planning and development offices across the region.”
In addition to the 0.7 acres in Thrapston, land which Carter Jonas is actively promoting for sale through its Peterborough office this autumn includes 7.67 acres in Higham Ferrers, east of Northampton and 15.44 acres the market town of Lutterworth in Leicestershire.
All sites have deadlines for informal tender in November and December.