South East King's Lynn housing project moves forward
An agreement has been reached
A significant step towards progressing the South East King's Lynn Strategic Growth Area has been made following the signing of an option agreement between landowner Tharros Ltd and the Borough Council of King's Lynn & West Norfolk.
The South East King's Lynn Strategic Growth Area (Growth Area) is a site made up of land in mixed ownership. The borough council has been working with landowners to establish collaboration agreements so that the land, identified in the Local Plan, can be brought forward for housing development.
Landowner Tharros Ltd and the borough council have signed an option agreement which means the borough council could purchase their land, or pass on the option to purchase their land to another party. The council acquired the option as part of its commitment to enable and encourage development in the Growth Area. Without this agreement, uncertainty over that parcel of land could have jeopardised the whole development area.
Cllr Richard Blunt, Cabinet Member for Development, said:
"Officers and legal advisers have been working hard to secure this agreement which, during negotiations, was subject to a non-disclosure agreement. Now it is in place I am delighted that we are able to announce what has been achieved. This means we can now progress with the wider collaboration agreements. Having this option and collaboration agreements in place is crucial to us being considered for central government funding for infrastructure, such as the MRN funding bid that Norfolk County Council have submitted to the Department for Transport for the West Winch Housing Access Road. The agreements could open up opportunities to lever in other funding in the future."