Shurdington, Gloucestershire, UK
Our latest strategic land investment site is located on the eastern edge of Shurdington, a strategically important village in the Tewkesbury district of Gloucestershire. On successful allocation of the site for residential use, it is projected that investors will enjoy a close to 300% return over a 3 - 4 year period. This equates to an approximately 27% annualized return.
The site is located directly adjacent to the south eastern boundary of Shurdington and is approximately 16 acres in size. The site is level and is currently used for grazing and informal equestrian use with access off Badgeworth Lane. Shurdington is a strategically important settlement located between the towns of Gloucester and Cheltenham.
Our Planning Department Comments
- Shurdington falls under the Tewkesbury Borough Council which has a joint Local Plan with the neighbouring Local Planning Authorities of Cheltenham and Gloucester. The combined area has made a provision to provide 35,175 homes over the plan period of which Tewkesbury is to deliver a minimum of 9,899 homes. The current joint Local Plan is scheduled for adoption in summer 2019 but currently has only identified 7 strategic allocations with cross boundary borders which can deliver a total of 10,900 dwellings up to 2031. Our site was not an assessed site as it was not made available for the 2016/2017 Assessment of Land Availability. This means that it has not yet been considered for development.
- The site provides an excellent opportunity to increase further allocation in the area which is already woefully short of its mandated requirement and is experiencing significant growth from the already identified strategic allocations made through the joint plan.
- Given the above and Tewkesbury's deficient land supply and historical difficulties in securing delivery, our site represents an excellent opportunity for promotion for development both in the short term to alleviate the current land deficiencies as well as the medium term for future Local Plan land delivery.
Latest Planning Update
Tewkesbury Local Plan is currently under review as part of a joint Local Plan with neighbouring authorities, Gloucester and Cheltenham. The Plan is under review both in its own right and as part of the greater joint plan and, given its clear deficiencies, will be shown to be being unable to deliver on its housing requirements, reason for this having been provided in previous updates.
As part of the review process, we have made representations to the regulation 19 pre submission consultations in November 2019 and the review was scheduled to continue through 2020. However, this process was paused due to Covid19 restrictions and the examination hearing recommenced in February / March 2021 which we attended and made representations.
We now await the Inspectors initial response to these consultations and the subsequent timescale for the consultative hearing which should be towards the end of the year.