Hargreaves Land has bought a 550-acre plot near Scunthorpe in Lincolnshire with plans for more than 1,150 homes.
The conditional deal, with site receiver Watling Real Estate, will allow Hargreaves’ plans for its sustainable and mixed-use scheme, Lincolnshire Lakes, to take a step closer to reality.
The land close to the M181 motorway at Gunness will be developed over the next 15 years.
A 65-acre section of the site has been given a strategic allocation in North Lincolnshire’s emerging local plan as a potential site for the development of a carbon-neutral advanced manufacturing park.
Hargreaves said this could provide commercial space to accommodate a range of emerging businesses, alongside research and development institutions, including those in the clean energy sector.
The scheme will be masterplanned by Hargreaves as a 20-minute neighbourhood and will also include a new primary school, district centre and extensive areas of public open space.
Freeths acted on behalf of Hargreaves Land; Pinsent Masons represented the receiver.
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