£1.8m land deal for new residential development site

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A residential development site near Solihull with planning permission for more than 200 new apartments has been sold for £1.8 million.

Lyndon Place, in Coventry Road, has been bought by a private client from Manchester-based Property Alliance Group.

Extant consent comprises converting an existing office block into 126 apartments and construction of two new blocks of between five and seven storeys to contain another 85 apartments.

There will be four three-bedroom apartments with the remainder having either one or two bedrooms, along with more than 150 parking spaces and bike storage at the site in Sheldon.

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Ryan Lynch is associate director of Birmingham property agency Siddall Jones which acted for the seller.

He said: “We are delighted to have acquired this site on behalf of our retained client.

“The scheme is well thought through and located near to Solihull in an area where the demand for good-quality residential stock is high.

“We look forward to the fruition of the scheme.”

Agency founder Edward Siddall-Jones added: “This demonstrates that, even during the covid-19 pandemic, developer appetite remains high.

“We continue to have high demand for residential development sites either with or subject to residential planning.”

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