Neighbours rake in £2.5m after developer buys land
A GROUP of neighbours were celebrating a £2.5million windfall yesterday after selling part of their back gardens to make way for a new housing estate.
The 19 owners made up to £200,000 each after striking a deal with a property developer.
Planners had already given the green light for 22 new houses and 34 apartments on the site.
Residents will make an average of £130,000 each, allowing some to take early retirement and others to buy new cars and boats.
One owner refused to join the scheme and his 300ft garden will soon be surrounded by the new homes.
The deal was organised by owner Chris Hall, 44, who approached Linden Homes after discovering the company was keen to build in the area.
He bought his home three years ago and planned to build a bungalow in his 200ft garden.
But when he approached planners they told him that his scheme could hinder the future development by Linden Homes.
So Chris decided to contact the company. He has netted the largest amount – £200,000 – after selling his entire plot to make way for an access road into the new development in Whitchurch, Bristol.
Retired civil servant Geoff Perrett, 64, sold half an acre.
He said: “I was opposed to building houses in the gardens at the time. My garden is a bit of a wildlife haven.
“However, I realised that homes would be built on the land come what may and my garden would be among all of that. So I thought if you can’t beat them, join them.”
His wife Shirley, 53, has been able to retire early from her job as a civil servant and the couple now plan to buy a boat.
The scheme was originally discussed more than three years ago by residents living in David’s Road, Wells Road and
Woodleigh Gardens.
Properties in the area range in value from £150,000 for semi-detached homes to over £500,000 for larger detached houses on Wells Road.
The 19 owners agreed to sell part of their land to Linden Homes for sums between £30,000 and £200,000.