L&Q Estates completes a flurry of deals

L&Q Estates completes a flurry of deals

One of the largest strategic land companies in the UK has completed a flurry of deals to mark the end of its financial year.

Warwick-based L&Q Estates has sold serviced and unserviced plots of land to award-winning developers and local authorities to create much-needed homes and local centres throughout England.

Seven deals were all completed within the last three weeks of the financial year including the sale of land to Barratt Homes and David Wilson Homes at Fairfields in Milton Keynes, for the creation of a Local Centre to serve the growing community, and a new mixed-use Local Centre in Heathcote, Warwick, has been sold to LSP Developments, which includes retail, offices, nursery and care provision.

Across the whole of the financial year, L&Q Estates delivered 13 individual land sales for 1,336 new houses, two local centres and one employment site to 11 different organisations.

They have also secured nine new development sites, with the potential for 11,000 additional plots including two new strategic sites.

The master planners have also obtained five new planning consents, one won at appeal, and secured an allocation or draft allocation on a further nine sites.

Over the last 12 months, L&Q Estates has directly managed the delivery of over £20 million of new infrastructure and community facilities.

Ian Hardwick, managing director of L&Q Estates, said it had been a very positive 2020/21 and an extremely busy end to its financial year.

“Our colleagues have been negotiating sales of land to housebuilders and local authorities for many months which led to completing seven deals within the last three weeks of the financial year,” he said.

“Despite all the uncertainty caused by Covid-19, this is a solid performance and we have transacted with a wide range of housebuilders and developers. The number of new sites we have acquired only further reinforces our future pipeline.

“The sales we have achieved are testament to our philosophy of identifying sites with excellent potential in the right geographical area and having teams with the experience and skills to promote these sites from allocation through planning to the delivery of infrastructure to unlock the sites’ full potential.

“Our extensive and growing portfolio means the next 12 months look set to be just as busy as we continue to lead the way in delivering beautiful places and supporting communities across the UK, and play our part in delivering L&Q’s commitment to provide high-quality housing to help resolve the national housing shortage.”

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