Land set for 135 new homes has been sold to a construction company for £23 million after a controversial appeal.
Angle Property and Fiera Real Estate have announced the completed sale of the 16-acre Rectory Farm, in Kings Langley, to Cala Homes.
Angle director James Good described getting to this stage as “quite a journey” following a “roller-coaster planning process”, which saw backlash from residents and permission initially refused.
He added: “We always believed that the site had the right characteristics for residential development despite being technically green belt land.
“We are looking forward to seeing the scheme deliver 135 new homes and a new centre for the Sunnyside Rural Trust, an established local charity helping young adults with learning difficulties.
“The centre will include a café, repair and cycle hub, allotments and six acres of public open space alongside the Grand Union Canal.”
It comes after Angle bought the site for £8.16 million in February 2018, through Fiera’s residential land partnership scheme, and previously secured planning permission for 55 homes on four acres of previously developed land there.
This was then sold on to Miller Homes for £9.14 million in 2020, leaving the remaining undeveloped green belt land which had been allocated for development in a previous draft version of the Dacorum Borough Council local plan but had since been removed.
The council refused to grant planning permission for Angle and Cala Homes’ joint application for 135 homes there in October 2023, as residents entered 173 objections and organised to prevent what they saw as a merging of Kings Langley with neighbouring settlements.
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Angle appealed the decision and the planning inspectorate granted permission following a public hearing in May 2024. After fulfilling conditions attached to the permission, it was able to finalise the sale this month.
Fiera Real Estate head of investment management Chris Button said: “This project showcases how the combination of institutional investment and property company planning skill can bring sites forward for much needed housing, whilst delivering attractive returns for stakeholders.
“Housebuilders are generally unwilling to take planning risk, so it takes a joint venture like ours to bridge the delivery gap.”
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