Bellway advised on East Mids property deals
Housebuilder Bellway Homes has been advised by law firm Glaisyers Solicitors on a string of property deals in the East Midlands. They include the £1.8m Mapperley Plains development in Nottingham, the £8m sale of RAF Newton and re-sale to BDW Trading for £4m.
The Manchester law firm says it has advised Bellway on residential development property deals totalling more than £26m. It also includes projects in the North West such as the £7m Greenall’s distillery in Warrington, the £4m Roby Road site in Roby, near Liverpool and the £2m Norlands Lane site in Widnes.
David Burrows, residential property partner at Glaisyers, said: “This is a significant achievement for the firm in such a short space of time. It’s testament to our dedication and professionalism that we have been able to forge such a long-standing, loyal client relationship with Bellway.”
He added: "The residential property market is slowly recovering and as it was the first sector to get hit by the recession, it fits that it would be the first to emerge. Rather than buying new, Bellway has been selling plots out on existing land stock, a trait that will be common among many developers.
“However, it’s not all rosy. We are still suffering from the fact that banks are not supplying the mortgages on the plot sales side even though business is booming on the acquisition side. Hopefully, in time, the banks’ requirements will ease and plot sales will flourish once again, but that’s not the case at the moment.”
