Residential Development Site in Nettleham
Banks Long & Co acted on behalf of the vendors of a 1.5 acre site in Nettleham in the sale to Beal Homes in January this year.
Beal’s are expecting to start work on site in the next month or. The site has detailed planning permission for 15 houses in total, ranging from 5 bed detached homes to 3 bed semis and also includes 3 barn conversions. This is one of the few residential land sales that we are aware has taken place in or around Lincoln for sometime and is a positive sign that at last after over 2 years the land market in the area is finally beginning to move again, albeit values are down from the levels seen at the peak of the market in mid 2007. This is an important development for the property market as the residential market tends to lead the way and the commercial market then follows, so positive trends in the residential sector will filter through to the Commercial market in due course. This is likely to be particularly important in Lincolnshire as a number of the major Developers in our area are active in both the commercial and residential sectors.
