Bellway snaps up Wrexham University land
The housebuilder has paid more than £5m for six acres off Holt Road.
Having acquired the land from Wrexham University, Bellway plans to redevelop the site, which has planning permission for 74 homes.
Located around a mile north-east of Wrexham city centre, the scheme would comprise a mix of three-, four-, and five-bedroom homes.
A Section 106 agreement has been completed for the Holt Road site, ensuring that 25% of homes will be classed as affordable. A contribution towards local education will also be made.
Part of the land is to be maintained for sports and recreational use in perpetuity for residents and local sports clubs.
Legat Owen acted for the university, having first been appointed to sell the land two years ago, and Bellway was unrepresented.
The Holt Road deal is the third Legat Owen has advised Wrexham University on in the last two years.
The other two saw a seven-acre plot close to Plas Coch Retail Park, with consent for 90 homes, sold to Edwards Homes for £3m and a 12-acre site at Gatewen Road in the village of New Broughton, sold to Bellway for £6m with outline planning permission for 112 homes.
Will Rees director at Legat Owen said: “We have managed to navigate through very difficult circumstances to conclude three successful land sales for the University, in deals that will bring much-needed homes to Wrexham.”
David Elcock, executive director of finance at Wrexham University, praised Legat Owen for its “professionalism” across the three deals.