Knight Frank's Residential Land Team Announces Record Year for Deals

Posted by Knight Frank Newcastle on 19th April 2022 -

The Residential Development Land team's 2021-22 financial year saw a significant increase in land sales compared to the previous year.

The team has closed almost 150 deals across the last 12 months, which have a collective value of approximately £1.55 billion.

With a combined GDV of over £6.8 billion, once built, the sites have the potential to deliver over 15,000 new homes across London, the South East, the South West, the Midlands and the North of England.

The team has been involved in some of the most noteworthy land deals to take place during this period. 

In London, Knight Frank saw a 55% increase in transactions in the 2021-22 financial year compared to the previous year, with strong demand across the whole market.  

In the Midlands, acting on behalf of the landowner, Knight Frank sold a 123-acre site in Daventry, Northamptonshire, to Spitfire Homes and Crest Nicholson, which will deliver 1,100 new homes as well a primary school and 50 acres of public space.

The team also advised on the deal between Bellway and Brackley Golf Course. The site, which is located between Salford and Bolton, was purchased by Bellway for £40 million and once built, will deliver almost 700 new homes.

Justin Gaze, Head of Residential Development Land at Knight Frank,¸ says: “It has been a storming year of land sales. Competition for sites is incredibly fierce; due to a scarcity of supply, housebuilders are especially keen to secure housing sites to match strong demand for their completed product. In most cases housebuilders are lowering their margins in order to secure land. As a result, even in the face of strong increases in build costs, land is selling at record levels, making it an attractive time for landowners to sell.”