Clapham Two Plot

Case Study

Was: A redundant garage workshop in a rural location with a failed planning application for open market housing.

Now: A scheme comprising a pair of detached executive homes and two 2 bedroom affordable semi-detached houses sold initially at a fixed price of £99,000 (58% market value).

Landspeed were approached by a planning consultant seeking assistance on a ‘brown-field’ site in the village of Clapham just south of Exeter. The site (in the Teignbridge Council area) had been subject to a planning application by the landowner to deliver a scheme of open market properties but this had been rejected and it was clearly advised that an element of affordable accommodation would need to form part of any re-submission.

2 affordable homes Exeter

The landowner had been advised that affordable homes would drag the values down. Landspeed advised that it would be possible to deliver a pair of 2 bedroom houses and that these could be delivered at disposal values under £100,000 (which at the time equated to 58% of market value). The remainder of the site could accommodate two substantial detached houses, and the returns from these would both satisfy the landowner’s land value expectations and deliver a satisfactory return on the construction.

The principle was discussed with local parish councillors and was welcomed both locally and, subsequently, at full planning committee where it was unanimously supported.

Both properties were sold to individuals living in the Parish – both of whom had never envisaged being capable of buying their own homes.