News - Midlands
Record land deal for Stratford
Surrey’s Restful Homes has paid £1.5m for a site in Scholars Lane, Stratford, and is planning to build a 63-bedroom care home on the land. Property company Earlplace, based near Solihull, bought the site from the NFU Mutual in September 2008, wanting to develop it as a care home for the elderly. It won planning consent for a 63-bed home from Stratford District Council in April 2009 but decided to sell the site to the care-home operator. Lawrence Grove, managing director of Earlplace, said: “We acted for ourselves in this transaction, but have been told by property experts in the care-home field that it was a record for a site outside London, taking into account the size of the home which will be created.