Property and regeneration specialist Hargreaves Land has completed the sale of a prominent development opportunity near Colchester to a leading housebuilder.

Bellway, one of the UK’s largest housebuilders, has purchased the 5.3-acre site located at the corner of Fenn Road and Brook Street on the outskirts of Halstead.

The site, which comprises two individual parcels of land, is allocated for 30 new dwellings.

Hargreaves Land initially secured the land by way of an option agreement and over recent years the firm has actively promoted the site for development which ultimately led to the allocation by Braintree District Council in 2022.

Zoe Shearman, senior development surveyor at Hargreaves Land, said: “This transaction is an excellent example of our ability to identify opportunities and use our expertise to work with local authorities to secure a positive outcome. Our professional advisers have worked hard to help us achieve this fantastic result and we look forward to seeing the development of new homes in the years ahead.”

Property consultancy Savills was appointed by Hargreaves Land to market the site and secure a sale.

Grace Forster, senior surveyor in the development team at Savills Chelmsford, said: “We’re delighted to have been able to help with the sale of this important site and look forward to seeing how the scheme progresses. It represents an exciting opportunity to deliver sustainable growth in the shape of high-quality residential use and significantly contribute to the supply of much-needed new homes in the local area.”

Eleanor Kibblewhite, Bellway Strategic Land and Planning Manager for the South Region, said: “Our acquisition of this site demonstrates our commitment to deliver further high-quality housing across the region. With the land purchase complete, we now look forward to working collaboratively with Braintree District Council to bring forward a high-quality scheme on this allocated site in Halstead.”