HOLT, WILTSHIRE, UK
Our latest strategic land investment site is located on the north western edge of Holt, Wiltshire, close to the historical city of Bath. On successful allocation of the site for residential use, it is projected that investors will enjoy a close to 200% return over a 3-4 year period. This equates to an approximately 17.5% annualised return.
The site is located directly adjacent to the idyllic settlement of Holt and is approximately 8 acres in size. Holt is within the County of Wiltshire approximately 3 miles from the town of Bradford-on-Avon and 10 miles from the city of Bath. Holt as a settlement has a range of excellent services and facilities and has ample capacity to accommodate future housing development therefore making our site a Sustainable Urban Extension Site. The site is located to the north west of the settlement and has existing residential development to the south and east with access off Leigh Road linking it to the B310. The site is within walking distance of the services and facilities mentioned previously.
Our Planning Department Comments
- Wiltshire County Council is the administrative authority and they have produced a new Core Strategy which is due to be adopted by the Committee in January 2015.
- This Plan proposes a minimum of 42,000 homes over the plan period to 2026. Within the Bradford-on-Avon Community Area (to which Holt specifically falls within) there is a requirement for 185 new homes over the plan period to which between 60-80 houses have yet to be allocated. In addition, the Inspector, when concluding the Core Strategy was sound, stressed the need for an early review of the housing numbers in the whole area. This will take place in early 2016 and will inevitably result in more housing being required in this area.
- The site represents an excellent opportunity to secure planning allocation for residential development in the medium term. We will be promoting the site through the Core Strategy review process and subsequent Site Allocations Document for inclusion as a residential development site within 3 - 5 years.
Latest Planning Update
As described in the previous planning update, Wiltshire Council have had to commence with a review of their Local Plan as required by the Wiltshire Site Allocation DPD.
The Local Plan is at risk of being rejected due to its inablity to deliver the required housing into the joint Swindon and Wiltshire Joint Spatial Plan and one of the Neighbourhood plans that has been identified as being deficient is Holt due to their reliance on an alternative site that cannot deliver the required housing. The review of the local plan is expected to continue through 2020 and we will be promoting our site as a suitable alternative site that is capable of delivering the required housing.
Consultation on the pre-submission of the draft Local Plan is anticipated in Q1/2 2020 but we are pushing for clarification on the specific timelines. Once we have these a further update will be provided.