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 previously, Holt's Neighbourhood Plan remains deficient in terms of its affordable housing contribution to Wiltshire's Local Plan that is currently under its Pre-Submission Plan. Furthermore, given the age of Holt's Neighbourhood Plan, it will shortly be considered out of date and will be required to go under review.
Holt have also committed to a 100% affordable scheme being delivered in the village and the current development at the Tannery Site does not satisfy this criteria hence the need for the plan to identify an additional site through its review.
We will continue to monitor the next stage of the Local Plan which is currently timetabled for Q4 2022 - Q2 2023 and await confirmation of the timescales for the review of the Holt Neighbourhood Plan.