Wragge & Co’s real-estate team has advised a consortium of developers on a major land purchase earmarked for the development of a new market town in the south west of England.
A team led by partner John Dixon advised Taylor Wimpey, Linden Homes and Bovis Homes on the acquisition of 1,200 acres of land near Plymouth.
Planning permission has been granted for the development of the new town of Sherford, which, when completed, will contain 5,500 homes, schools, recreational facilities and a place of worship.
Working with John Dixon on the transaction were real-estate solicitors Daniel Leather and Dale Roberts, associate Chris Nyland and partner Lee Nuttall from the tax team, alongside planning partner Andrew Thomas and director Graham Wrigglesworth.
The project will receive up to £32m of funding from the government’s Homes and Communities Agency (HCA), which assists with the development of key infrastructure including roads. Director Richard Beckingsale advised on HCA funding issues.