Strategic Land Group has sold 3.2 acres in Penyffordd, Flintshire, to housebuilder Macbryde Homes, paving the way for the development of a 32-home scheme, which already has planning consent.
The value of the deal was not disclosed, but SLG said it achieved 150% of the estimated market value.
Under plans from Macbryde, the site will be developed into 32 homes alongside associated infrastructure, including public space. The scheme, known as Oak Meadow, comprises a mix of two-, three- and four-bedroom homes marketed at first-time buyers, young families and professionals.
Ten of the homes have been designated as affordable.
Permission for the development was initially refused by Flintshire County Council’s planning committee, however the plans were approved at appeal following a public enquiry. The planning inspector noted the shortage of land available for housing in Flintshire when making the decision.
Paul Smith, managing director SLG, said: “Securing planning permission for new homes on more challenging sites like this one, within smaller communities, is particularly gratifying.
“Communities like Penyffordd often experience an unwilling exodus of young people, simply due to a dearth of housing.”
SLG has a 17-site portfolio across England and Wales that it claims has a gross development value of around £500m and the potential to deliver 3,000 new homes.
Macbryde Homes develops new-build homes across the North West and North Wales.