A HECTARE site on the outskirts of Newent has been snapped up by London property company Farland Developments in a deal worth £8 million.
The deal means that the construction of Chapel Gate, a development of 30 family homes, at the junction of Bradfords Lane and Watery Lane, can start in the autumn this year.
The housing scheme, which was granted planning permission in August 2016, was designed by the Prince’s Foundation for Building Community.
It comprises a mixture of villas, cottages, mews and affordable houses integrated streets and green space.
Nicholas Tubbs, chief executive of Farland Developments, said: “The plans demonstrate our intention to create a vibrant community made up of attractive family homes that are fully integrated into the existing town of Newent.”
Working with Farland Developments, the Prince’s Foundation for Building Community designed the plans to ensure Chapel Gate will become a liveable and sustainable community.
However District Councillor Len Lawton, who lives in Bradfords Lane said that the proposed development faces a challenging future.
He added: “There is a very good reason why the road in called Watery Lane. During heavy rain, the road urns into raging torrent.
“And the loss of natural drainage with this development will only make things worse.”