IM Properties’ new strategic land division, IM Land, has had an outline planning application approved (subject to S106 and call-in) by Stratford-on-Avon District Council (SDC) to develop approximately 120 acres of land.
This will create up to 1,000 new homes, leisure and retail floorspace, and associated public open space and recreational and sports areas and an acoustic bund adjacent to the M40.
IM Land was launched last month with a £1.34 billion portfolio, with the ambition to acquire and promote new residential sites to sell onto housebuilders and developers, which require complex planning permissions on behalf of landowners.
The Stratford-upon-Avon site located adjacent to The Old Gated Road and the B4100, is one of a number IM Land is currently working on including schemes in Bath, Solihull, Lichfield and Warwick.
‘resolution to grant planning permission’ subject to a Section 106 legal agreement and planning conditions to be agreed between the two parties in due course.
IM Land’s development is a major component of the 3,000 dwelling Gaydon Lighthorne Heath new settlement and an important part of the council’s overall plan for the district, which requires an average of 725 additional homes per annum over the period 2016-2021.
Jonathan Dyke, IM Land’s strategic land director says the Gaydon Lighthorne scheme is precisely the type of scheme, which the Coleshill-based group envisaged when the division was established, and are actively seeking to invest in new complex development projects.
“We are delighted and looking forward to working with the council to continue to develop creating our plan for a high quality development featuring significant areas of public open space, community and recreational facilities and many other additional features including a large acoustic noise bund along the M40. ”
IM Land is a wholly owned by IM Properties Plc, has a land portfolio with a Gross Development Value of £1.34 billion and is headed by the group’s Strategic Land Director Jonathan Dyke supported by some of the housing industry’s leading professionals