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Tavistock housing given green light

Plans have been approved for up to 750 new homes and a new primary school on open farmland near Tavistock.Outline planning permission has been granted for the development at the Callington Road site by West Devon Borough Council's Planning and Licensing Committee, the Plymouth Herald reports.Construction work, which could begin in early 2015, is to be carried out by Bovis over the next ten years. Some 20 per cent of the development will be affordable homes, while a new convenience store will also be provided.A new bus service will serve the community, while the developer will make a £13.2 million contribution towards the reinstatement of the Tavistock to Bere Alston rail link. The connection, which is a long-term sustainable transport project, could be in place by 2022.Members of the planning committee accepted the view of officers that the proposal provided a robust framework for a high-quality development.They recognised adequate safeguards had been put in place to ensure that affordable housing is distributed across the site and development is built in phases.Bovis recently posted robust half-year financial results, with pre-tax profits rising 166 per cent on the previous year's figure. Revenues increased by 75 per cent, while operating profit was up by 150 per cent.This was achieved on the back of a strong rise in completions, which rose by 54 per cent, to 1,487 homes.Average sales price for 2014 legal completions are expected to be between £210,000 and £215,000, the group announced.Chief executive David Ritchie said: "We have developed a strategic plan which would see the business, in a stable housing market, growing over the next few years to annual volumes of between 5,000 and 6,000 new homes at premium profit margins benefiting from the effectiveness of the operating model."Bovis says it intends to manage the housing cycle to maximise returns while effectively stewarding shareholders' capital. 

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