Collaborative effort brings 70 new homes

A significant housing development is set to transform Lake Terrace in Melton Mowbray, where the construction of 70 homes, including 50% affordable housing, is moving forward due to a successful collaboration among several parties. Led by James Coningsby, a partner at the East Midlands law firm Nelsons, the project emerges from a complex property transaction initiated by Mandeep Singh, director at GS Residential.

The journey began with the speculative purchase of brownfield land in 2018 near the River Eye. This evolving project is now positioned to create a vital residential hub following the successful completion of 90 homes in its first phase, with the entire development valued at £40 million. The completion of this latest deal involved navigating significant legal and planning complexities, including securing the necessary approvals and negotiating intricate overage agreements with both Melton and Leicester Councils.

James Coningsby remarked, “This was a truly collaborative effort that required all parties to pull in the same direction. Navigating the overage deed variations and the evolving planning requirements was a challenge but seeing the project move to the construction phase is incredibly rewarding.” The development also addresses key urban planning needs with strategic land transfer, resulting in 35 homes allocated to Nottingham Community Housing Association (NCHA) while GS Residential retains the other 35 for their Newtown Living private rental brand.

Planning agility played a crucial role, as Coningsby mentioned, with adjustments made to the road layout to meet adoption standards. The approach exemplifies the power of collaboration, particularly between Nelsons and Freeths, both of which represented the respective parties involved in the deal.

Mandeep Singh expressed pride in the development, stating, “We saw the potential of this site back in 2018, and despite the complexities of developing brownfield land, we are proud to be supporting the delivery of 70 more high-quality homes including affordable options for the people of Leicestershire.” He also acknowledged Nelsons' crucial role in overcoming obstacles throughout the process.

Elira Mano, new business and development manager at NCHA, echoed sentiments of excitement regarding the project's second phase, emphasizing, “Having seen the impact of phase one, we’re excited to move into phase two of the Lake Terrace development.” She noted the importance of the 35 affordable homes being delivered in addressing local housing needs and stated that this project illustrates what can be achieved through collaboration and a commitment to the community.

As work progresses, stakeholders anticipate the first handovers by early 2027, marking a significant achievement in local housing development.