Warwickshire-based property agency Newton LDP acted on behalf of the landowners to market and sell the site to Tilia Homes after it was successfully promoted by Northamptonshire-based Manor Oak Homes.
Contracts exchanged at the end of October, though the sale is not expected to complete until December. It’s hoped work on site will start in winter 2025 subject to planning permission, which will be submitted this winter.
The acquisition comes hot on the heels of a land deal in Wixams, Bedfordshire, which will become untypical’s first dual-branded site for Tilia Homes and sister company, Hopkins Homes.
Amerjit Atwal, Regional Managing Director for untypical’s Central region, said: “I am delighted that we continue to enhance our land acquisition programme, securing the right development opportunities in the right strategic locations.
“We recognise that Banbury has specific housing needs, and we are keen to meet those needs, especially for first-time buyers. This new development will offer quality, sustainable new homes with energy efficiency and community living at its heart."
The Cherwell District Council Housing Strategy 2025-2030 aims to meet the demand for housing in Oxfordshire by delivering affordable housing, promoting the health and wellbeing of communities through housing and tackling homelessness. The strategy has been approved for public consultation.
Piers Beeton, Director (Development) of Newton LDP, said: “We are thrilled to have successfully facilitated a sale for the landowners and Manor Oak Homes to Tilia Homes in Banbury. This 9.5-acre site presents an excellent opportunity to address the pressing housing needs in Oxfordshire, particularly in line with Cherwell District Council's housing strategy.
“The development's mix of properties, including a substantial portion of affordable homes, will make this project a valuable addition to Banbury's housing landscape."
As well as bringing social and economic benefits to the region, Tilia Homes will also contribute over £1 million to support the local community in Banbury, a historic market town on the River Cherwell.
The deal follows Tilia Homes’ recent announcement that it has secured £125m in strategic sustainability-linked debt funding with HSBC UK and Homes England. The new loan facility will enable the housebuilder to expand its immediate land pipeline and deliver more than 1,250 quality homes each year.
It also represents yet another major transaction for Newton LDP, after the firm played an integral role in land sales at Pickford Gate in Coventry and Cawston Lane in Rugby.
