Cadeby Homes snaps up Coalville residential site
Leicestershire-based developer Cadeby Homes has acquired a residential development site at Hugglescote, near Coalville, with outline planning permission for 11 two and three bedroom townhouses.
Sold by agents Mather Jamie, the site is at the rear of 103 to 107 Central Road.
Subject to detailed planning consent, work will begin on site later this year, with the first properties likely to be completed by summer 2011.
Louis Massarella Junior, director of Cadeby Homes which is based at Hugglescote, said the land was acquired “for a price which accurately reflected the current state of the East Midlands' property market”.
He added: “The market remains difficult and as developers, we still need to get hold of money at the right sort of price.
“Interest rates may have been kept low by the Bank of England but it’s still expensive for first-time buyers to borrow and it’s impossible to tell when this situation will improve.
“What is needed now, rather than a rise in property prices, is the return of stability to the market.”
