Keyland Developments Ltd, the property trading arm of Kelda Group and sister-company to Yorkshire Water, has signed its largest Planning Promotional Agreement (PPA)
The agreement relates to a proposed major urban extension which aims to deliver some 2,000 homes, employment, community facilities, the Featherstone bypass and open space on a 300 acre site in Wakefield.
A masterplan has been developed for the transformational project which incorporates a new strategic highway to relieve congestion in the area, market facing employment with good transport links to the nearby motorways, approximately 2,000 new homes addressing the housing deficit of the district, community facilities including a new primary school, a new retail offer to complement the existing town centre and accessible green space with a link to the proposed nine lakes.
The development of the site represents a significant opportunity to enable housing-led regeneration to create a critical mass of population to reinforce the facilitate the delivery of the bypass, whilst improving the setting of the existing settlement itself.
The development will also act as a catalyst for enhancing local services, encourage further expenditure within the local economy and attract future inward investment into the area.
Having developed the masterplan, the landowners have now entered into an agreement with Keyland Developments who will take on the promotion of the scheme through Wakefield Council’s forthcoming Local Plan Review.
The agreement represents Keyland’s sixth West Yorkshire PPA, with previous agreements in Leeds, Calderdale and Kirklees.
Peter Garrett, Managing Director of Keyland Developments Ltd, said; “Keyland’s PPA agreements enable landowners within the region to derive the maximum potential from their sites with no financial risk, whilst unlocking much-needed land to assist the local authorities in meeting their long-term housing needs.
“The project, which aims to deliver multiple and far-reaching social, economic and transport benefits is ideally suited to our expertise of facilitating the future regeneration of strategic land. It will be a major transformational project and we are delighted to lead the dedicated team to bring the vision to life.”