Land specialist Terra has completed on the sale of a 39-acre (15.85Ha) site in Hawkesbury, Warwickshire, to housebuilder Tilia Homes having secured outline planning permission for 176 new homes in August.

The parcel of land represents the second phase of Solihull-based Terra’s ‘canal village’ scheme – a two phase, 72-acre development which they secured an allocation for 380 residential units in the 2019 Nuneaton and Bedworth Borough Local Plan.

The entire length of the development area is bounded by Coventry Canal, with vehicular access from Stockley Road and Sephton Drive, both off Blackhorse Road.

Detailed planning approval for the phase one construction of 204 homes was granted in 2021, and later sold to Vistry Group. Construction of infrastructure work is well underway by Terra’s sister company Living Space.

James O’Shea, managing director of Terra, said:

“The sale of this parcel at Hawkesbury represents the successful conclusion of this project’s lifecycle for us, from purchasing the land unconditionally when in the Green Belt and working through the various stages of planning and now closing with the sale of this second phase of the site.

“We are particularly pleased that the completion of the sale also represents our first deal with Tilia Homes. The team at Tillia were pragmatic and diligent throughout and worked within the tight timescales provided.”

The ‘canal village’ is creating a vibrant new community, which is only a five-mile canalside walk or cycle ride from Coventry city centre. The scheme will have a transformative effect on the local area and provide significant community benefit, as well as a total of 380 quality new homes for north Warwickshire.

Masterplanning for the whole 72 acres was carried out by Hampshire-based Thrive Architects alongside planning consultants Tetlow King.

Terra is an experienced residential land specialist, which enters into agreements with landowners and then pursues, funds and secures the most valuable planning permission. It also has the financial resources to secure land with or without residential planning consent to assist landowners looking for a quick sale process. The company has a national reach, having recently secured residential land in Bedfordshire, Gloucestershire, Herefordshire, Norfolk, Northamptonshire, Nottinghamshire, Oxfordshire, Somerset, Warwickshire, The West Midlands, Wiltshire and Worcestershire.