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WHETSTONE PASTURES

DEVELOPMENT PROSPECTUS

Private and public sector working together. If you are reading this, then you have already taken the first step towards getting involved in what I feel is a unique and exciting opportunity. Blaby District is a great place to live, as you’ll discover when you read on, and an area which we are committed to making even better.

Our residents and businesses are happy and prospering and our economy is strong, but we know that we can’t be complacent and have to look to the future in order to meet the needs of our communities.

Going forward we will need to provide additional housing, jobs, roads, schools and places to stay healthy and relax. We are a forward-thinking organisation, and keen to support growth where it is sustainable and deliverable.

I believe that this project is a great opportunity to do just that. It will see the creation of a brand new community in the right place, at the right time, and with the infrastructure needed. We already have a strong partnership around the table, and a clear delivery strategy in place which I am confident we will deliver. We now need the right development partner in place so that we can make it happen.

This is an exciting time for Blaby and we hope you will consider being part of it.

Thank you for your interest, and for taking the time to read this, and we look forward to discussing this opportunity with you very soon.

FOREWORD

Cllr Terry Richardson, Leader of the Council

Site boundary for indicative purposes only.

WHETSTONE PASTURES WHETSTONE PASTURES2 3

The development of the Whetstone Pastures site represents a unique opportunity to deliver a major greenfield mixed-use site in a sustainable and effective partnership with the public sector. This will include the delivery of:

• A new M1 Junction (J20a), as part of the wider road network infrastructure, including the potential for a Southern Leicester Distributor Road,

• A highly significant strategic industrial and logistics opportunity, in the heart of the East Midlands with regional and national significance,

• Ambition for approximately 4 million square feet (371,612 sq m) of logistics space with around 5,000 jobs,

• New garden village providing c.3,500 homes - an immediate source of local labour,

• Simple landowner structure,

• Blaby District Council support,

• Within advanced local economic partnership area that has already levered over £250m investment for economic and infrastructure development

• 22 million people within a 3 hour HGV drive time,

• 95% of the population can be reached within a 4 hour HGV drive time,

• Industrial and logistics demand is set to continue and Whetstone Pastures offers an exciting opportunity to create a leading employment environment,

• Schools, healthcare, sports facilities, green and blue infrastructure, new local shops and community facilities.

Blaby District Council is committed to working with both the landowners and the appointed Development Partner to create a high-quality, high-value community that will capitalise on the benefits that our public-sector partners can bring. This opportunity has the ability to focus the skills that both the private and public sector can deliver in a partnership forum that will maximise the potential of this site. This approach will provide both political and financial certainty that will create a firm and stable delivery platform to ensure value creation, sustainability and quality. It will also see partners working together in order to secure public sector investment where possible and explore options for innovation based upon a pragmatic approach focused on the delivery objective.

EXECUTIVE SUMMARY

WHETSTONE PASTURES

Site boundary for indicative purposes only.


This document is intended to draw together and set out the aspirations, determination and collaborative approach of both the landowners and Blaby District Council, to deliver a sustainable mixed-use community through a unified vision.

INTRODUCTION

The partnership of public and private sectors is determined to create a protocol and approach to cooperation that will endure and form the basis of success.

The Whetstone Pastures Development proposal offers a unique opportunity to deliver truly sustainable strategic growth; comprising a new community, large scale employment opportunities and considerable benefits for the surrounding highways network. The plans would ensure the delivery of a new M1 Junction (J20a), approximately 4 million square feet (371,612 sq m) of industrial and logistics development with over 5,000 new jobs and in excess of 3,500 homes based on Garden Village aspirations. This sustainable new community will deliver facilities including schools, healthcare and sports, green and blue infrastructure, new local shops and other community facilities, all set within an attractive landscaped network of streets and parks, on a site located approximately 6 miles (10km) from the major commercial hub of Leicester City Centre, in the Districts of Blaby and Harborough, South West Leicestershire.

This opportunity is coming forward at a time of renewed government focus on growth and support for large scale strategic development and delivery of major infrastructure. The proposal builds on the opportunities set out in the Housing White Paper, ‘Fixing Our Broken Housing Market’, which was published on 7th February 2017 and the Industrial Strategy White Paper , ‘Building a Britain fit for the future’, published in November 2017 and subsequent consultation documents. This is pivotal to the strategic ambitions of Blaby District and the wider Leicester and Leicestershire Region. Uniquely this project has support from Blaby District Council, Leicestershire County Council and Homes England (formerly the Homes & Community Agency).

The size of the Whetstone Pastures Development proposal would signify a step change in the way in which growth is delivered within Blaby District and represents the District and County Councils’ proactive approach to delivering future development that meets the needs of

current and future residents of the District. It is an opportunity to create a wide choice of high quality homes of a size, type and tenure that will respond to local needs, all set within the context of a self-sustaining, viable, strong, vibrant and healthy community. It is also an opportunity to support the delivery of a sustainable, renewable and low-carbon energy strategy and associated infrastructure to help support the move to a low-carbon future, which is central to the economic, social and environmental elements of truly sustainable development. Whetstone Pastures will create a community that is sustainable both socially and financially.

These aspirations are based on a pragmatic approach to delivery that will ensure that ambitions are matched by financial probity. All opportunities for leveraging in public and private investment will be explored. The support for this project is underpinned by a considerable amount of high level strategic work that has been, and continues to be undertaken as part of the future growth requirements for Leicester and the Leicestershire Area.

The scheme will include the provision of a new M1 Motorway Junction (20a). This piece of major infrastructure is of national and regional importance, and provides enhanced opportunities for future growth within Blaby District and the wider Leicester and Leicestershire area as a whole. It is envisaged that the development of the Garden Village and employment and logistics park will play a key role in the delivery of the new motorway junction. Blaby District Council, Leicestershire County Council and the landowners, consider that the regional significance of the proposed motorway junction make it a project which has the potential to receive support from a variety of sources of public funding.

It is understood that to deliver a development of this scale requires a willingness to work collaboratively, with a passion for success, based on the delivery of high quality development. The proposal for this major development has cross party support from members of Blaby District Council and the involvement of the local authority’s senior officers.

WHETSTONE PASTURES

Map Key

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Overhead Power Lines

Total Ownership Area

441 ha / 1,089 ac

Based on Ordnance Survey 1:2500 mapping with the permission of the Controller of HMSO ©Crown Copyright Licence No ES 100018525


The Whetstone Pastures site represents an exceptional opportunity to deliver a high-quality, mixed-use community where placemaking will deliver long-term socio-economic value. The proposed Garden Village and major logistics destination will become regionally important in terms of economic growth and will be a focus for sustainable development for the next 20 years. From an employment perspective the development of a major industrial and logistics centre on a new junction on the M1 and the nearby disused railway line will ensure that the site will be an important hub for warehousing and logistics for years to come. The capacity for this site could amount to over 4 million square feet (371,612 sq m) of B8 space, generating over 5,000 new jobs and over 3,500 dwellings. Together with regionally and nationally significant infrastructure, new local shops, community facilities, all to be set within an attractive and integrated landscape within a network of streets and parks which are well connected by cycle ways and public transport, the opportunity offers a compelling case for successful development.

THE OPPORTUNITY

The momentum that has grown behind the scheme is unique as it has received support within Blaby District Council from both the Planning Department and local members as well as backing from Homes England. The proposal for this major development has cross party support from members of Blaby District Council and the involvement of the local authority’s senior officers.

The Whetstone Pastures site area is approximately 441 hectares (1,089 acres). An estimated 23 hectares (57 acres) of the site is constrained (woodland, listed building, existing buildings which may be retained and flood zone 3 areas).

The Whetstone Pastures concept offers the right Development Partner the opportunity to create a unique environment that will capitalise on the latent value. The opportunity to work closely with Blaby District Council offers an exceptional prospect for the delivery of quality and value by capturing the imagination of the local market.

Placemaking to create sustainability through

Community homogeneity

Sense of identity

Support of the local economy

Community endowment

Involvement of the community in the governance and management of

community assets

Quality environments to add value and aspirations

Addressing both market and public needs

Mission to create

Thriving businesses

An integrated mixed use community

Commercial opportunities and innovation

Investment in the long term to secure prosperity

High quality of life

Good health and wellbeing through a sense of belonging

Vision

Commercially astute

Expertly managed environment

Successful business model

An environment that supports the local community and the environment

Supporting the move to a low carbon future

Blaby District Council had the foresight to actively explore the possibility of a large strategic development to deliver a substantial part of the housing and employment allocation up until 2033. Therefore, the visionary developer will be able to optimise this opportunity and grow the brand to the benefit of all. The development partner will need to match the aspirations of the landowners and Blaby District Council. These aspirations are encapsulated in the key themes across the bottom of the page.

Further discussion on the site capacity and technical issues can be considered through discussions with prospective partners, including as to how the c.441 hectares (1,089 acres) of gross land could be split between the residential, employment and other associated, for example, community uses.

Context

Centrally located for UK motorways, rail and airports

New local transport links

Modern building design

Commercial opportunities and innovation

Employment creation and workforce skills development

Sustainability and efficiency

Investment for long term prosperity

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Project NameLand South of Contesthorpe, Leicestershire

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URBAN DESIGN STUDIOSouthampton:London:OxfordCambridge:Birmingham

Existing Settlements

M1 Motorway

Existing Highways

Existing Public Footpaths

Obelisk

New Potential Junction to/ from M1

New Strategic Highway Link

Future Extension to Strategic Highway

Reconfigured Local Road Network

Pedestrian/ Cycle Greenway along Dismantled Railway

Proposed Employment/ Roadside Services

Proposed Residential Settlement & Indicative Movement

Approximate Location for Mixed Use Village Centre

Landscape Separation Between Settlements & New Village

Landscape Corridors Accommodating Watercourse, Landscape Features & Movement

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BIRMINGHAM

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LONDON GATEWAYTILBURY

The site is located south west of the village of Countesthorpe around 10 km south of Leicester City Centre. The site sits alongside and across the Blaby District and Harborough District boundaries with the vast majority of the site within Blaby.

LOCATION

It is bounded by the M1 and a former railway line to the west, a second former railway line to the north, Hill Lane and Banbury Lane to the east, as part of wider infrastructure improvements including a South Leicester Distributor road. The site covers an area of approximately 441 hectares (1,089 acres).

Leicester and Leicestershire is growing rapidly and ahead of national trends. The region is the largest economy in the East Midlands - home to over 450,000 jobs and 45,000 businesses with an economy worth £22.9 billion that makes a major contribution to national productivity.

The projected growth reflects the strong underlying economy and the attractiveness of this location for major national and regional scale investments. The site’s location in Blaby District, in the centre of England and at the confluence of the major north-south and east-west motorways, enjoys unrivalled connectivity making it a superb location for distribution with excellent access nationally and internationally by road, rail and air.

East Midlands Airport, just 30 minutes motorway drive away is the gateway to Europe, North America and Africa with over 80 business and leisure routes. It is the UK’s busiest regional “pure” cargo airport, second only to Heathrow in total cargo, handling over 328,000 tonnes of cargo per year. As the UK hub for DHL, TNT, UPS and UK main air hub for Royal Mail it supports a vibrant logistics operation 24/7 and has ambitious plans for expansion and growth. Birmingham International Airport is only 45 minutes drive from the site.

In a recent survey for the Ministry of Housing, Communities and Local Government (MHCLG) Blaby was ranked 288 out of 326 local authorities in England (with 326 being the least deprived). Blaby District was ranked 44th best place to live in the Halifax National Quality of Life Survey 2015 of 250 local authorities in the United Kingdom.

WHETSTONE PASTURES

Whetstone Pastures

The recent business demography data show that the biggest employment sectors in the District of Blaby are financial services, retailing and distribution, the public and services sectors. The District is also host to Fosse Park, located just off Junction 21 of the M1, which is one of the most successful out of town retail parks (in terms of rental values and visitor numbers) in the UK. It is also the home of many national companies’ headquarters, including Next plc, Everards Brewery, Boden, and is also home to Santander UK Plc.

Leicester and Leicestershire are already the focus for considerable growth and Blaby District Council in particular, has wholly embraced these economic opportunities. The Leicester and Leicestershire Enterprise Partnership (LLEP) and the local authorities in Leicester and Leicestershire continue to take steps to plan positively for housing and economic growth. Central to that approach is ensuring that the population is well placed to take advantage of new job opportunities by having the right skills and ensuring that the right type of housing is in place at the right time. South West Leicestershire, where the site is located has been identified by the LLEP as a Growth Area in the Strategic Economic Plan. The quantum and type of housing envisaged on the site will contribute to ensuring a working population is available to take advantage of new job opportunities, to enable the area to reach its full growth potential.


CONTEXT

Land Ownership & Tenure

The ownership of the land required to deliver both the Garden Village and the Industrial and Logistics development is under the freehold ownership of 2 generations within the same family. This exceptional advantage will facilitate the timely delivery of the development without the concerns over diverse ownership patterns and overly complicated collaboration and equalisation agreements. The land has been in the ownership of the family for many generations.

A collaboration agreement has been agreed by the family members. This will facilitate the ability for a pragmatic approach to the drawdown of land to facilitate the delivery of phased development. The aerial images edged white represents part of the land ownership controlled by the parties and required for the delivery of the Garden Village and the Industrial and Logistics Park.

Site features

As with any development site, there are a number of constraints on development that will need to be managed. A high-level review of the site has been undertaken which has revealed the following environmental/historical constraints.

Site of Special Scientific Interest (SSSI) Impact Risk Zone

It will be necessary to consider the Impact Risk Zone from the Narborough Bog SSSI which is located outside of the site boundary to the north in Narborough, which is approximately 3.5 km from the site.

Conservation Areas

Conservation areas at Willoughby Waterleys and Countesthorpe will need to be considered.

Listed Building

It will be necessary to consider the Listed Grade II Whetstone Pastures House (previously the Whetstone Residential Home) which is located within the site.

Areas of deciduous woodland

The areas of deciduous woodland are located along the railway and M1. They present an opportunity for screening, and nature habitats. A sensitive approach to planning and design could retain and incorporate these key blocks of trees within the site, and to contribute towards biodiversity improvements.

Farmland bird species on site

The bird species on the site include Grey Partridge, Tree Sparrow and Lapwing. It will be possible to enhance the biodiversity value of the site through the inclusion of native species together with other species of wildlife interest.

Flood Zone 2 and 3

Flood Zone 2 and 3 runs north to south across the site along the Whetstone Brook.

Gas Pipeline

The site is partially constrained by a gas pipeline and its wider consultation zone which runs along the northern boundary of the site. This land restraint could be designed into the scheme as open space, with the potential for a wildlife site to be created, whilst at the same time providing a buffer to the northern boundary of the site. The degree to which the pipeline will actually constrain development is yet to be established and interested parties will need to establish for themselves the limits it may place on development.

Agricultural Land Classification

The Agricultural Land Classification is grade 3, which is Good to Moderate.

Existing landform and topography

In physical terms, the site forms a shallow valley sloping gently towards the Whetstone Brook, which drains the surrounding agricultural land. The land falls towards the north and rises to the south, falling towards the brook from the east and west. The former railway line truncates the views northwards and creates a strong tree-lined belt defining the northern edge of the site. The existing topography presents opportunities for the development to be integrated within the surrounding landscape.

Existing access and connectivity

The site is crossed by a network of small access lanes that serve the farmsteads and other properties; two lanes run east-west and a further lane runs north-south. The lanes are proposed to be retained as part of the access structure to serve the Garden Village. There are opportunities to create links to existing local footpaths/cycle ways/existing transport networks.

TPOs

There are no existing Tree Preservation Orders that apply within the confines of the site.

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INDUSTRIAL & LOGISTICS PARK

Summary

It is envisaged, subject to planning, that a significant element of the c. 441 hectares (1,089 acres) Whetstone Pastures site will be made available for B1/B2/B8 uses.

There is potential to create c.4 million square feet (371,612 sq m) of industrial and logistics space with a new motorway junction providing immediate access to the M1.

The scheme’s location and scale makes it a truly unique offering, sitting within the heart of what is referred to as “the Golden Triangle”, the core location for industrial and logistics in the UK.

Site advantages

• A highly significant strategic industrial and logistics opportunity with regional and national significance.

• Ambition for approximately 4 million square feet (371,612 sq m) of industrial and logistics space and over 5,000 jobs

• New garden village providing c.3,500 homes - an immediate source of local labour

• Simple landowner structure

• Blaby District Council support

• 22 million people within a 3 hour HGV drive time

• 95% of the population can be reached within a 4 hour HGV drive time

• The East Midlands has only c.4.2 years supply of deliverable employment sites and only c.1.2 years worth of existing building supply based on recent take up levels.

• Evidence (within Leicester and Leicestershire Strategic Distribution Study) has established forecast demand for strategic B8 warehousing in the region at non- rail served sites which can be referenced to support the planning process.

• Industrial and logistics demand is set to continue and Whetstone Pastures offers an exciting opportunity to create a world leading employment environment.

Strategic location

Whetstone Pastures is situated in a prime, strategic location immediately adjacent to the M1 south of Leicester. With the proposed new motorway Junction (20a), combined with its proximity to the City of Leicester, it has the potential to create a highly sustainable industrial and logistics park development with regional and national significance.

This development opportunity provides enhanced opportunities for future growth within Blaby District and the wider Leicester and Leicestershire area as a whole. It is envisaged that the development of the Garden Village and the Logistics Park will play a key role in the delivery of the new motorway junction.

Blaby District Council, Leicestershire County Council, the Leicester and Leicestershire Local Enterprise Partnership and Landowners, consider that the regional significance of the proposed motorway junction make it a project which has the potential to receive support from a variety of potential sources of public funding.

Junction 20a would be located at the point where the A426 currently crosses the M1 with the proposed South Leicester Distributor Road running east from J20a to eventually link the A6. The Leicester and Leicestershire ‘Vision for Growth 2050’ identifies this new ‘expressway’ proposal for the A46 as being a critical piece of infrastructure in the council’s draft growth strategy for the region. The importance of this infrastructure to the council’s proposed strategy for growth clearly demonstrates the desire and commitment of the local authority to see development take place at Whetstone Pastures. Further, there is also the potential for a link to run west from the new junction to the M69, linking with the A5 increasing future road communications.

The Strategic Economic Plan identifies the area of South West Leicestershire as one of five priority growth areas and is seen to have significant potential for employment (particularly logistics) and housing growth centred around the transport links provided by the Strategic Road Network.

Labour Supply

The most recent Office for National Statistic (ONS) population estimates suggest that the population of Leicester and Leicestershire will grow by 14.4% to 1,131,300 by 2037, an increase of 143,000 since 2012. The most recent household projections continue to show that it will be an attractive location for housing growth. The ONS sub-national household projections show for Blaby District an increase between 2016 and 2039 of a further 6,000 new households.

Competitive wage rates, lower than the England average, contribute towards affordable operating costs.

In addition, there is a workforce of over 1 million people within a 45 minute drive.

The logistics sector offers a wide range of employment opportunities with job creation expected in driving, warehouse, IT, HR, sales and leadership and management.

This area has an economically active labour market with established work and skills development programmes to attract and successfully deliver talent to power business growth. The region has the largest number of educational institutions in the East Midlands, including 3 world class top performing universities with effective industry collaborations and partnership networks.

In addition, there is potential to create over 5,000 additional jobs from the indirect supply chain from the logistics park.


INDUSTRIAL & LOGISTICS MARKET

Logistics and Distribution underpin the efficiency of our UK industry. This region has a distinct competitive advantage, with the sector accounting for 10% of jobs (51,000 LLEP area) and generating around a quarter of GVA.

The sector is a priority for growth and development activity within the LLEP area with a sector growth plan produced in collaboration with industry and business.

Market conditions remain buoyant in the industrial and logistics sector. 2016 was a record year for the sector with c.37 million sq ft of take up across the UK. 2017’s take up was in line with the long term average of c.24 million sq ft. The lack of speculative development somewhat limited take up for 2017. We expect 2018 take up figures to be in excess of 2017, with some c.9 million sq ft of transactions expected to conclude by the end of Q1.

With the increasing dominance of e-commerce and drive for efficiencies, logistics units are increasing in size and large employment sites are being developed more quickly than originally expected.

The East Midlands accounted for c.20% of all take-up in 2016 (units over 100,000 sq ft) and c.25% of take up in 2017 – approximately 4.2m sq ft , which is the highest of any region in the UK.

In terms of currently available space (i.e. buildings, whether new or second hand or under construction) there is circa 6m sq ft of space of which 70% is classified as grade A. However, based on the long term average of take-up this equates to just 1.6 years of supply. This presents a problem for future demand and increases the need for delivery of new additional sites across the region.

There are 40 sites being actively marketed across the whole of the East Midlands. These however, vary by quality and deliverability. Filtering by Grade A quality and short term deliverability, the development pipeline falls to just eight sites which total approximately 621 acres. Based on long term average build out rates, this pipeline is equivalent to just 4.2 years’ worth of supply.

Companies with large scale national distribution centres are choosing Leicestershire as their location of choice for efficiency in business performance and haulage routes – Boden, Mattel, Royal Mail in Blaby District, DPD nearby at Hinckley, Amazon and M & S close to East Midlands Airport with Asda, Britvic, Toyota and TNT nearby at Magna Park, the largest distribution park in Europe.

For international trade, nowhere is better linked than Leicester and Leicestershire with India and China.

Maintaining the supply of high quality employment land is fundamental to meeting market need. Whetstone Pastures offers an exciting opportunity to do this.

National Take-up UK Logistics Supply

Regional Supply by Grade Grade A Years of Supply

GARDEN VILLAGE PROPOSALS

The Government’s Garden Village initiative is a key strategy to meet the nationwide housing shortage. With the right infrastructure in place these settlements can create new self-sufficient communities that avoid creating strains on existing settlements.

In March 2016, the then DCLG set out Garden Village Eligibility criteria in their document ‘Locally-Led Garden Villages, Towns and Cities’. The criteria are as follows:

• Size –must be for a new settlement of 1,500 – 10,000 homes,

• Free-standing settlement – must be a new discrete settlement,

• Local authority led – expressions of interest must be led by Local Authorities but support from private sector developers and/or landowners are welcome.

The then DCLG also set out prioritisation criteria which highlighted the factors they expect to take into account in deciding which expressions of interest to support. These were as follows:

• Local leadership and community support – must demonstrate a strong local commitment to delivery and that the local community is being or will be engaged at an early stage,

• Quality and design – must demonstrate how the Garden Village will be well-designed, built to a high quality, and be attractive,

• Public sector and brownfield land – effective use of previously developed land,

• Local demand – demonstrate how the new settlement is part of a wider strategy to secure the delivery of new homes to meet assessed need,

• Viability and deliverability – encourage proposals that set out how land costs can be minimised, or land receipts deferred,

• Additional or accelerated delivery – offer a strong proposal of quantified early delivery, a significant acceleration of housing delivery and genuine additional housing supply,

• Starter Homes – high quality starter homes to be offered at least a 20% discount for young first-time buyers,

• Support for small and medium enterprise home builders – provide opportunities to promote a diverse range of house builders,

• Innovation – innovative forms of delivery such as offsite construction, self-build, custom-build and a direct commissioning approach.

Blaby District Council with the support of Leicestershire County Council and the Leicester and Leicestershire Local Enterprise Partnership (LLEP) made a submission in response to the Department for Communities and Local Government (now the Ministry of Housing Communities and Local Government) and Homes England (formerly the Homes and Communities Agency) invitation for Garden Village proposals in July 2016. Whilst the bid was not successful, Homes England in their individual letter of response went on to encourage the continued pursuit of the Garden Village idea (see quote above).

Blaby District Council is already in receipt of funds from Homes England for very early capacity funding, and has met with Homes England on a number of occasions and is utilising the support offered.

The proposals are at an early stage and currently have no status in the Development Plan - the Local Authority and landowners have a shared goal to develop the ideas into fully-fledged proposals over the next 12-24 months. They are committed to the appointment of a Development Partner that shares their ambitions. The aspirations of the delivery partners are to respond innovatively to the Garden Village objectives by creating a new community that would be built to the highest standards of sustainability, governance and will be successfully managed and delivered.

In addition to the above criteria, a Garden Village proposal will be expected to deliver: infrastructure including an appropriate mixture of dwellings, employment uses, primary, secondary, and post-16 educational facilities, local/neighbourhood centres and public open space (formal and informal) and blue infrastructure and other community facilities, all set within an attractive landscaped network of streets and parks.

The Homes and Communities Agency (now Homes England) is responsible for delivering the Garden Villages Programme for (the then) DCLG and we recognise the potential of your proposal. We would like to have a conversation with you around how we can best support you in progressing your Garden Village ambitions. There is scope for us to offer support from our planning Team ATLAS, from delivery specialists in our teams and in the Homes and Communities Agency’s Land Team. We hope to open another round of Garden Village Funding in 2017/2018 and offer guidance in preparing applications.0

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WHETSTONE PASTURES

PLANNING COMMENTARY

Planning Introduction

The majority of the landholding falls within the administrative boundaries of Blaby District Council, with the remainder falling within Harborough District Council. This document has not commented specifically on either the National Planning Policy Framework or other national planning policy guidance. We have also not rehearsed the prospective implications of the Government’s White Paper, ‘Fixing Our Broken Housing Market’, which was published on the 7 February 2017. The latter is effectively no more than a consultation document at this stage. That said, it is worth saying that the common thread running through both the Framework and the White Paper is an overriding need to speed up the delivery of housing with the presumption in favour of sustainable development remaining at the forefront of both current and emerging Government policy.

The proposals for the Garden Village are not found in any of Blaby or Harborough’s current planning policy documents. Rather, the proposals are an advanced strategic opportunity to bring forward sustainable development proposals across Blaby and South Leicestershire.

Following adoption of the Delivery DPD, which is anticipated in 2018, Blaby District Council is looking to progress work on the new Local Plan in light of the recent findings of the Housing and Economic Development Needs Assessment (HEDNA) and the draft emerging Strategic Growth Plan. The Local Authority considers that the continual growth on the edges of settlements in Blaby District (and as often unplanned increments through Section 78 planning appeals), is not the most sustainable

form of development and is not in the best interest of its communities. Whilst this type of development cannot be ruled out completely it is possible to explore the possibility of planning for growth on a large scale (including Garden Village proposals) and in a location that can be well served by new strategic infrastructure that will facilitate growth into the future. Blaby District believe that they have found such a location at Whetstone Pastures.

The location of Whetstone Pastures is seen as strategic in terms of the approach put forward by the draft Strategic Growth Plan for Leicester and Leicestershire. The Plan contains proposals for growth around a new A46 corridor, to the south and east of Leicester. The proposed A46 expressway will connect from the M69 via a new junction (20a) on the M1 through to the existing A46 at Syston. The provision of such infrastructure in supporting strategic growth in this location provides high level support for development at locations such as Whetstone Pastures.

We envisage that a planning application(s) could be prepared in parallel to a Local Plan review. The ability to submit and determine an application would grow, the further the Local Plan review progresses and can be reviewed at various key stages in the process.

Harborough District Council are aware of the opportunity and of Blaby District Council’s support. At the time of writing, early engagement with Harborough District Council has started and will continue as the opportunity is progressed.

Sections 106 Contributions

As is the case with all developments of this scale there will be a requirement to provide mitigation and facilities via planning obligations to ensure that it is truly sustainable. Whilst the extent of any such obligations will need to be established at a much more advanced stage of the process along with the phasing of their provision, it is likely that the majority of the contributions below will be required to some degree:

• Open Space / Open Space Maintenance,

• Community Facilities / Community Hall,

• Healthcare Contribution – Health Centre,

• Police Contribution,

• Community Development Worker,

• Education Contribution – Primary School(s) / Secondary School(s) Post 16,

• Affordable Housing (circa 25%),

• Necessary Highways Works,

• Sustainable Transport Package,

• Libraries Contribution

• Employment Skills and Training – linked to other similar schemes within the area.

There is also an opportunity to harness the enthusiasm and imagination of the local community by engaging them in the ongoing maintenance and management arrangements of the facilities provided as part of the Garden Village. This in turn has the potential to contribute to a sense of belonging, community and wellbeing.

HIGHWAY INFRASTRUCTURE

The District Council has been working very closely with Leicestershire County Council and Highways England, and other key stakeholders, including the LLEP with regard to the provision of essential infrastructure. This will include a new junction on the M1 (Junction 20a), and the first part of a potential new South Leicester Distributor Road. All parties are committed to work together in order to utilise all funding sources available.

These Infrastructure works fall within the wider strategy for the Midlands Growth Engine, and Midlands Connect, and are therefore in receipt of political support.


PUBLIC SECTOR INFRASTRUCTURE FUNDING OPPORTUNITIES

A development of this size and importance has the potential to receive support from a range of public bodies. This is particularly the case with regard to the delivery of the essential highways and other infrastructure which is pivotal to providing this and future development opportunities in the area. Support will be sought from all reasonable sources including:

• The County Council;

• The LLEP;

• Midlands Engine/ Midlands Connect;

• Highways England;

• Ministry of Housing, Communities and Local Government;

• Housing Infrastructure Fund;

GOVERNANCE & DELIVERY

Governance

The Whetstone Pastures development represents a unique collaboration between landowners, the Public Sector and the selected Development Partner. The spirit of cooperation that has been established between the landowners, their agents, the County Council and Blaby District Council has created a strong delivery team that will provide a template for understanding, cooperation and delivery. This template needs to be nurtured and augmented where necessary during the course of the development process as it will be an effective mechanism to manage issues that could otherwise result in delays or inefficiencies.

The collaborative approach outlined above will require the addition of the right development partner. All parties should share the same ambitions to deliver a modern, high-quality and sustainable development and understand the need for the governance process to be effective and relevant. The principles of collaborative governance will not only apply during the development phase but will be required to be embedded in order that the community is endowed with the same spirit. This could relate to the maintenance of the new community and the management of community and public spaces facilities.

Delivering the development with the right partner

As a result, the selected Development Partner will need to embrace these principles and be committed to working with Blaby District Council, Harborough District Council, Leicestershire County Council, Highways England, the Parish Councils and other relevant stakeholders. A streamlined and effective delivery board will need to evolve to focus efforts on the management of issues and the resolution of problems. Appropriate governance structures will need to be created to maintain progress and respond to issues. This structure will need to be responsive to the market vagaries and cultural changes to ensure that delivery can be maintained.

We believe that in order to achieve this the following are required by all who aspire to deliver the Whetstone Pastures site:

• The ability to create a clear and shared vision;

• Resources both financial and personnel;

• Local leadership (corporate and political);

• Building consensus and meaningful participation;

• Sufficient capacity and skills to undertake the work;

• Governance which includes community representation;

• Public and private sector partnership working;

• Accountability;

• Longevity, to be able to stay with the project to ensure it meets its objective and maximise returns;

• Experience;

• Creativity.

Blaby District Council and other key stakeholders continue to be aware of the relevant public funding opportunities and are pursuing all relevant potential sources of funding. The Council will in due course work with the Development Partner to secure and realise future Public-sector funding opportunities going forward.


THE FULL DETAILS RELATING TO THE PROCUREMENT PROCESS ARE

ATTACHED IN APPENDIX 3.

NEXT STEPS

The selection of the right development partner is essential not only from a value and delivery standpoint, regardless of land use, but also from an enduring and productive partnership perspective. The development partner must therefore clearly demonstrate a relevant track record in the delivery of largely mixed-use schemes and have the skills and resources along with a vision to be able to optimise the true potential of the site. We anticipate the key roles of a development partner will include:

• To be able to finance and coordinate the securing of an allocation in the Local Plan for development and subsequent submission and approval of an outline/detailed planning application

• To understand, manage and deliver a community engagement strategy

• Create a financial model that will deliver aspirations

• Prepare and deliver a masterplan for the overall development and manage the interface between the uses to create a high-quality environment, working with investors, stakeholders, tenants etc (both public and private)

• Create a unique sense of place and community

• To be able to resource and deliver a major development, all necessary infrastructure and community benefits

• To create an enduring financially secure management structure

CONTACTS

For further information please contact:

Blaby District Council

Cat Hartley Group Manager

Planning and Economic Development 0116 272 7727

[email protected]

BNP Paribas Real Estate (incorporating Strutt & Parker)

David Ashworth Partner

National Development & Planning 020 7318 4751 - 07471 226525

[email protected]

James Fairweather Senior Director

Head of Industrial & Logistics Investment 020 7318 5020 – 07711 952 079

[email protected]

Savills

Ben Glover Director

Development 0115 934 8041 - 07503 223 385

[email protected]

STAGE 1

Developer shortlist conclusion

STAGE 2

Initial contact with potential Development Partners

STAGE 3

Submission of proposals to BNP Paribas Real Estate

(incorporating Strutt & Parker) and Savills

STAGE 6

Conclude negotiations of development partnership agreement

STAGE 5

Appoint the preferred development partner

STAGE 4

Conduct interviews with shortlist of development partners.

STAGE 7

Consult and understand

STAGE 8

Create a vision

STAGE 9

Promote the vision through the planning process

STAGE 11

Manage the future of the garden village

STAGE 10

Deliver the vision

Anticipated process:

THE FULL DETAILS RELATING TO THE PROCUREMENT PROCESS ARE

ATTACHED IN APPENDIX 3.

Important Notice

Savills, Strutt & Parker, BNP Paribus Real Estate and their clients give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | April 2018

Richard Sullivan Director

National Head of Industrial & Logistics 020 7409 8125 – 07799 413721

[email protected]


APPENDIX 1 - PLANNING COMMENTARY

These proposals are at an early stage and currently have no status in either the current Blaby District Council or Harborough District Council Development Plans.

However, there is expectation that in the light of emerging development pressure across the region that both Blaby District Council and Harborough District Council will be looking to review their current emerging plans to accommodate future housing and economic development needs. In the case of Blaby District Council this would manifest itself in a new Local Plan and to Harborough a review on replacement of its emerging Plan.

Paragraph 47 of the National Planning Policy Framework (NPPF) requires local planning authorities to ensure enough housing land is delivered to meet identified needs across the ‘housing market area’. For Harborough and Blaby, this will mean working alongside other local authorities which together make up the Leicester and Leicestershire Housing Market Area (HMA). This is a relatively self-contained area, across which people travel to work and move house and was identified and confirmed by the Leicester and Leicestershire Housing and Economic Development Needs Assessment (HEDNA), 2017.

The HEDNA calculated the quantitatively assessed need in accordance with the Planning Practice Guidance and used the official demographic projections (2014-based DCLG household projections, produced in July 2016) as the preliminary point. These forecasts were then tuned to take account of local factors affecting migration and household formation rates and employment growth forecasts. An adjustment was made to take account of market signals and affordable housing needs. The outcome is the objectively assessed housing need for the Leicester and Leicestershire Housing Market Area and for each local authority within it.

For the Harborough District it is 532 dwellings per annum between 2011 and 2031 (HEDNA), giving a total requirement across the 20-year period of 10,640 dwellings. For the district of Blaby 370 dwellings will be delivered per annum between 2011 and 2031 (HEDNA), giving a total requirement across the 20-year period of 7,400 dwellings. The full objectively assessed housing need for the Leicester and Leicestershire HMA is 4,829 dwellings per annum between 2011 and 2031 (96,580 total).

Leicester City Council has indicated that there will be unmet housing need within the City. A letter from Leicester City Council to all the other local planning authorities in the HMA dated 13th February 2017 stated that; ‘the scale of the need [OAN] set out in the HEDNA is of such magnitude that it is concluded that there will be an unmet need arising in the city’. An additional letter sent on the same day to the Planning Inspector for the examination of the North West Leicestershire Local Plan set out ‘our formal declaration of unmet housing need arising in the city’.

The scale of the shortfall in Leicester City will be recognised during preparation of their Local Plan. Leicester City Council has indicated an aspiration to work with other local authorities within the HMA to ensure the unmet need can be accommodated within the HMA by ensuring emerging plans are flexible enough to answer such needs. Similarly, Oadby and Wigston Borough Council have indicated that the Borough will have an unmet need of at least 915 dwellings for the period 2031 to 2036. They have asked that councils in the HMA take this into account in preparing their own local plans.

Local authorities also have a statutory Duty to Cooperate over such matters and to identify how any such needs would be met. A Memorandum of Understanding (MoU) will be prepared by the 9 local authorities within the HMA. This document will identify how any unmet housing needs will be accommodated and will be signed by each authority as a binding agreement. Please note that the majority of the site falls within Blaby District and approximately 15% lies within Harborough District. Due to the majority of the site being within Blaby District Council’s border the document has been heavily weighted on their opinions due to the large percentile of houses and logistics land within the local authority’s boundary.

The Draft Strategic Growth Plan for Leicester and Leicestershire provides an indication that the proposed A46 corridor and Southern Gateway can provide a notional capacity of development totalling 40,000. Whetstone Pastures is a strategic site which can help towards delivery of this capacity. It should be noted that the plan is non-statutory. This means that although it can guide planning decisions and future policy, it does not have statutory weight as laid out in legislation. Nevertheless, the plan is supportive of strategic sites along the proposed A46 corridor. This provides an indication of support for developments such as Whetstone Pastures across a long timeframe within this area. The plan is currently at draft stage, with a final version of the plan set to be published in late 2018.

Future Housing and Economic Requirements for Blaby and Harborough

Blaby and Harborough districts are two of nine Leicestershire local authorities including the County Council and Leicester City Council which form the Leicester Housing Market Area (HMA).

The most recent assessment of housing and employment needs in respect of offices, research and development, light industrial, general industrial and storage and distribution floor space within the HMA is set out in the Leicester and Leicestershire Housing and Economic Development Needs Assessment (HEDNA) for the periods 2011 - 2031 and 2011 - 2036. The assessment published in January 2017 provides an evidence base intended to inform the preparation of statutory local plans by individual local planning authorities, a non-statutory Strategic Growth Plan for Leicester and Leicestershire and a refresh of the LEP’s Strategic Economic Plan.

In terms of housing, the HEDNA identifies an objectively assessed need (OAN) for 96,580 dwellings across the HMA between 2011-31 (4,829 dpa) and 117,900 dwellings across the HMA between 2011-2036 (4,716 dpa) split down between the individual authorities as follows:

Local Authority OAN 2011-31 pa

OAN 2011-31 total

OAN2011-36 pa

OAN 2011-36 total

Leicester 1,692 33,840 1,668 41,700

Blaby 370 7,400 361 9,025

Charnwood 1,031 20,620 994 24,850

Harborough 532 10,640 514 12,850

Hinckley & Bosworth 471 9,420 454 11,350

Melton 186 3,720 170 4,250

NW Leicestershire 481 9,620 448 11,200

Oadby & Wigston 148 2,960 155 3,875

Totals 96,580 117,900

Note the HMA total of 117,900 does not match the sum of its LA parts.

The conclusions of the HEDNA study recognise that there is no need to adjust upwards the assessed need to support economic growth when the demographic and economic-led projections are compared with one another at the HMA level, and that economic growth in individual authorities could therefore be supported by agreeing an alternative distribution of housing provision through the Duty to Cooperate. On this basis, the HMA conclusions do not sum to the total of the figures for individual authorities in the relevant columns of the above table, as HEDNA concludes there is no need for an upward adjustment to support economic growth at the HMA level.

Furthermore, HEDNA considers that where an Authority is meeting the unmet needs from another, this will support population and workforce growth within the receiving authority’s area. On this basis HEDNA states that it is important not to double count unmet needs and provision to meet economic growth.

In the context of considering five-year land supply in a development management context (rather than plan-making) in advance of the adoption of local plans, HEDNA concludes that it would be appropriate to take account of adjustments to economic growth in Melton and North West Leicestershire in drawing conclusions on the full OAN for housing within these local authorities.

In a plan-making context, the HEDNA observes that higher economic-driven need in Melton and North West Leicestershire could potentially be met through agreeing an alternative distribution of housing provision through the Duty to Cooperate. Against this context the need for above trend in-migration to support economic growth in Melton and North West Leicestershire does not imply a higher housing need at an HMA level and can be addressed by the Local Authorities working collaboratively to agree an alternative distribution of housing provision through the Duty to Cooperate.

WHETSTONE PASTURESWHETSTONE PASTURESWHETSTONE PASTURES WHETSTONE PASTURES24 25

The HEDNA

In January 2017 the Leicester and Leicestershire Authorities and LLEP jointly published a Housing and Economic Development Needs Assessment (HEDNA) that identifies the future quantity of housing and employment land needed in Leicester and Leicestershire up to 2031 and 2036. It assesses the latest Objectively Assessed Need (OAN) for housing taking into account the most up to date population projections. The HEDNA set out the scale of housing and employment growth that will need to be delivered both in the region as a whole and housing market area broken down into individual Authority areas.

The HEDNA has identified an Objectively Assessed Need for 117,900 dwellings between 2011 and 2036 across Leicester and Leicestershire and a need for Blaby itself of 361 dwellings per year over the same period which equates to 9,025 overall. It has also assessed the need for 12.4 hectares (30 acres) of land for distribution units under 9,000sqm. The need for larger more strategic distribution units across Leicestershire is set out in the Leicester and Leicestershire Strategic Distribution Study 2015 (updated in 2017).

In addition to setting out the future housing and employment requirement the document recognises that, under the Duty to Cooperate, there is a need for the all authorities within the Leicester and Leicestershire Housing Market Area to work collaboratively to account for the distribution of any identified unmet need.

The urban area does not have an infinite supply of housing and employment sites and continued expansion of settlements at their edges is placing an unacceptable strain on infrastructure and affecting the environments most valued by existing communities. Discussions regarding the distribution of the identified housing and employment needs across the Leicester and Leicestershire Area are already taking place in accordance with the Duty to Cooperate.

The Strategic Growth Plan

In recognising Leicester and Leicestershire’s huge potential for growth the Leicestershire Authorities have begun the preparation of a Strategic Growth Plan which will shape the future of the Region up to 2050. This will consider a more strategic approach to the delivery of future growth and the essential infrastructure that is required to achieve this. The anticipated production of the document is as follows:

• public consultation period is between 11 January and 5 April 2018 (extended to 10 May 2018);

• publication of the final version is anticipated summer/autumn 2018.

The Strategic Economic Plan

The Strategic Economic Plan (SEP) provides the framework for achieving the LLEP’s vision of creating 45,000 new jobs, leveraging £2.5bn of private investment and increasing GVA by £4bn to £23bn by 2020. The SEP identifies the area of South West Leicestershire as one of five priority growth areas and is seen to have significant potential for employment (particular logistics) and housing growth centred around the transport links provided by the Strategic Road Network (SRN). The LLEP is required to submit a Local Industrial Strategy (LIS) which will replace the Strategic Economic Plan (SEP) and this align with the upcoming Strategic Growth Plan.

APPENDIX 2 - STRATEGIC POLICY CONTEXT

Midlands Engine for Growth

The Leicestershire region falls within the catchment of the Midlands Engine for Growth the prospectus for which defines Leicestershire as

“located in the centre of the United Kingdom, is the heartbeat of the nation’s economy. Built on a strong advanced manufacturing base and enhanced by a range of further sectoral strengths, the Midlands Engine is perfectly positioned to take advantage of the economic growth, productivity and skills opportunities we face as a nation”.

Leicester, Leicestershire and Combined Authority Proposal

On 25 June 2015 the Leaders of the nine local authorities in Leicester & Leicestershire met as the Economic Growth Board and agreed to review the governance arrangements for the area. The Board sought to identify the best way of delivering ambitious plans for growth and to identify the most effective way in which policy and strategy on major functions could be joined up across administrative boundaries.

The review concluded that a Combined Authority was the best solution and the commitment to the Strategic Growth Plan already demonstrates a desire for positive planning for growth and the effective delivery of housing, employment and infrastructure within a robust environmental framework. The proposal was submitted to the Government on 21 December 2015 for consideration.

The Combined Authority would comprise the County Council, Seven District and Borough Councils and the LLEP. It is proposed that the Combined Authority will focus on the strategic economic development matters through closer working to provide a clearer, long-term framework to meet future housing and employment needs for the area as a whole and identify future growth locations in road, rail and other public transport infrastructure and training, to give local people the chance to get better qualifications and employment.

The Leicester and Leicestershire Authorities have not let the delay in the Government’s review of their Combined Authority Application prevent them from moving forward with their plans and considerable work has already been undertaken including a substantial amount of work on their Strategic Growth Plan.

The Leicester and Leicestershire area as a whole is growing rapidly and ahead of national growth trends. The most recent ONS population estimates suggest that the population of Leicester and Leicestershire will grow by 14.4% to 1,131,300 by 2037, an increase of 143,000 from 2012. The population is estimated to grow to 1,049,700, an increase of 6.2% by 2022.

This reflects its strong underlying economy and the attractiveness of this location for major national and regional scale investments. Leicester and Leicestershire’s location in the centre of England and at the confluence of the major north south and east-west motorways and major routes, means that it is a favoured location for many national and international businesses.

The key to the area’s medium and long-term economic success will be its ability to continue to offer high quality, accessible locations to live and work.

WHETSTONE PASTURESWHETSTONE PASTURES

The prospectus demonstrates a collective wish to improve productivity, drive economic growth, create jobs and improve quality of life across the region. Key themes include: promoting the region’s strengths and assets, Midlands Connect - a long term transport investment strategy, Business innovation, finance for business and skills.

The Midlands Engine Partnership responded to the Government’s strategy with the Midlands Engine Vision for Growth. This sets out five priorities for investment to enable the Midlands to contribute to the UK’s Industrial Strategy and drive Britain’s post-Brexit Growth:

• Connect the Midlands

• Invest in Strategic Infrastructure

• Grow International Trade and Investment

• Increase innovation and Enterprise

• Shape Great Places

Delivery of the Midlands Connect transport strategy is noted as a key priority as well as the importance of the Midlands location within the ‘golden triangle’ for logistics.

Midlands Connectivity Strategy March 2017

Midlands Connect is the transport partnership for the Midlands Engine with an aspiration to enhance connectivity within, to and from the Midlands. The site falls within one of four Strategic Economic Hubs Identified in the document and one of six strategic growth corridors identified as being critical to both the Midlands and the UK as a whole. It is also located within the zone identified as the Leicestershire Strategic Regeneration Area.

Prospectus for Growth Leicestershire (Sept 2017)

Prepared by Leicestershire County Council, this document sets out national and regional transport projects to support growth in Leicestershire. It includes the A46 Expressway, including Leicester southern and eastern bypass, and M1 junction 20a.


APPENDIX 3 – PROCUREMENT PROCESS

Marketing Approach

Creating governance structures for the delivery of the site and its ongoing maintenance of public and community facilities

Funding, co-ordinating and implementing an occupier targeted marketing strategy

Being able to think innovatively and decisively to capitalise on all opportunities to improve the aspirations of the landowners. BNP Paribas Real Estate (incorporating Strutt & parker) and Savills will co-ordinate the developer / promoter selection process as described below.

Stage 1: Development partner shortlist

BNP Paribas Real Estate (incorporating Strutt & Parker) and Savills will prepare a shortlist of those partners believed to have all the necessary skills, experience and resources to deliver the Whetstone Pastures project. This list will focus on those companies that can deliver both a new sustainable community and a logistics park or have the ability to work collaboratively or in partnership with others to deliver a unified approach to delivery.

Stage 2: Proposal submission and completion of submission questionnaire

The selected potential partners will be invited to submit a proposal document, which should answer the questions set out in the submission document and complete a questionnaire. The questionnaire is intended to focus on the financial, legal and contractual issues, in order that submissions can be objectively assessed alongside each other. The submission and the questionnaire will address the following:

Planning - the ability to understand the planning framework and work collaboratively with all stakeholders to deliver as early an implementable and deliverable planning approval as possible. This will include working with Blaby District Council and Harborough District Council to create a policy framework that will secure the future deliverability of the development;

Stakeholder engagement - a clear understanding of the key stakeholders and the importance of effective engagement;

Track record of delivery - the ability to demonstrate live projects that have parallels with the Whetstone Pastures site, including the resources and ability to achieve the aspirations of the owners and the public sector and create a mixed-use sustainable community;

Resources - the internal and external resources to be able to deliver a high-quality development of a mixed-use nature to optimise the potential of the site. To be able to create a development platform that can respond to market vagaries and continue to deliver development. To be able to undertake enabling works where required to facilitate the timely development of the site and capitalise on all sources of funding;

Place making - the ability to create a new development that will nurture growth both financially and physically;

Governance - the ability to work with Blaby District Council, Leicestershire County Council, Homes England and Highways England in a positive collaborative manner throughout the project delivery phase.

The submission should address all the questions raised as a minimum. It is not intended that potential partners will submit only responses to these questions. It is anticipated that the preferred development partner will be able to successfully address these questions whilst clearly setting out details of the quality, scale and delivery of their potential development proposals. The use of drawings and images to demonstrate their vision for the site will be encouraged.

In addition to the above, we need clear acceptance from the selected party that they are able to accept the primary objective which will be to maximise the potential of the site and are prepared to commit resources prior to the conclusion of any contractual arrangements.

Where required, arrangements will be made to accommodate individual tours of the site. We will of course reserve the right to ask for further information or clarifications from any interested party and undertake interviews at this stage if felt appropriate. A shortlist of selected parties will be invited to participate in Stage 3.

Stage 3: Interview

Potential partners will be shortlisted and invited to attend an interview and present their proposal to the Landowners and their advisors. The interview will be focused on fully understanding the submitted proposals and the assumptions made. A formal recommendation will then be offered to the Landowners by BNP Paribas Real Estate (incorporating Strutt & Parker) and Savills.

Stage 4: Selection of Preferred Partner and Issue of Heads of Terms

The preferred Development Partner will be selected. Heads of terms based on their submission will be finalised and issued to the respective parties solicitors.

WHETSTONE PASTURESWHETSTONE PASTURES

Stage 5: Promotion and Development Agreement

The appointed development partner will be expected to expedite the negotiations of a development agreement with the landowners and fulfil the agreed roles and responsibilities of the development partner.


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