STRATEGIC landowner Lands Improvement, owned by Telereal Trillium, has concluded the sale of residential development land in Kilmarnock to Bellway Homes Scotland for the delivery of 291 new homes.
The Savills development team represented the vendor regarding the Fardalehill site. The recent sale forms the final phases of a masterplanned site that was granted planning permission in Principle in 2012 for the delivery of up to 550 homes, across five phases.
Bellway has already delivered the initial three phases of development, comprising 240 units. Detailed planning permission for a further 291 units on phases four and five was granted in February this year and Bellway will soon start construction.
Emma Biggin, associate director in the Savills development team, said, “We were delighted to act for Lands Improvement in the sale of this site in a location which has experienced strong growth in the last 24 months. Sites of this scale are rare in the west of Scotland and attract strong interest from developers keen to secure land for housing delivery.
“Lands Improvements’ commitment to Fardalehill over the last decade, through masterplanning the site and facilitating major infrastructure works, has been key to ensuring that it can be brought forward to deliver a range of quality housing for the residents of Kilmarnock.”
James Stone, MD at Lands Improvement, added, “Lands Improvement are delighted to have completed the sale of this consented serviced land parcel at Fardalehill to Bellway Homes, to whom we have already sold the first three phases. Lands Improvement have been involved in Kilmarnock for several decades and have overseen significant investment in the area including delivery of major infrastructure to support the development of housing and employment space.
“Working with Bellway, in addition to other partners and the local council, we have been able to establish a new high quality neighbourhood, providing much needed housing and delivering benefits to the local community.”