Land For Sale £825,000
Development/Investment opportunity available. This opportunity is in a SPV and stamp duty etc savings can be made. Planning has been granted for 10 x additional flats to be built on the 4th and 5th floors (currently air space). 4th floor to comprise of 8 x 1-bedroom flats (2 x flats with additional internal rooms) & 5th floor 2 x 2-bedroom penthouses.
A new cycle store to be built. New 150-year leases that allow short term holiday lets will be provided for each of the proposed new flats. There will be no ground rent to pay going forward. The proposed air space flats will range from 398 sq ft (36.97 sq mt) to 506 sq ft (47 sq mt). All flats will have an open plan Living/dining room/kitchen, bedroom and bathroom. Two of the flats on the 4th floor will benefit from an additional internal study/bedroom two. Some flats will have sea views. No parking.
The site is within walking distance of the beach, regular public transport links to Bournemouth Town Centre. Bournemouth Borough Council. Application number: 7-2020-21563-F. CIL £48,191.27, this has been paid by the vendor but will be passed on to the new purchaser. Section 106 £1,936.00. All Council contributions to be paid by the purchaser. Note: the CIL and section 106 payments are not included in the purchase price and will need to be reimbursed to the vendor. Building Regs and Structural engineers report will be provided to the proceeding purchaser. The vendor has confirmed that both reports are acceptable and confirm that the existing building is suitable for the proposed work to be completed.
The party wall agreements will be passed over to the purchaser. The vendor will provide conformation that all Meyrick Estates covenants have been satisfied, paid and the new build section of this existing building can be built. Site area 0.110 Hectares. Estimated GDV for the proposed flats is £2,400,000.00. Please ask Andrew Hooper or Robert Smith for further details.
More development & investments available on our web site:
Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1.8% (minimum fee of £2,400) including Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell the finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed) the acquired property or the developed properties on a sole agency basis within three years of completion. If Churchfield are not instructed and the acquisition is sold or Let by the purchaser/s within this period, an additional fee of 1.8% including vat (minimum fee £2,400 including vat) of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed. Once the three year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest.
Churchfield Offer a FREE Selling Service to Vendors of Land and Investments
A new cycle store to be built. New 150-year leases that allow short term holiday lets will be provided for each of the proposed new flats. There will be no ground rent to pay going forward. The proposed air space flats will range from 398 sq ft (36.97 sq mt) to 506 sq ft (47 sq mt). All flats will have an open plan Living/dining room/kitchen, bedroom and bathroom. Two of the flats on the 4th floor will benefit from an additional internal study/bedroom two. Some flats will have sea views. No parking.
The site is within walking distance of the beach, regular public transport links to Bournemouth Town Centre. Bournemouth Borough Council. Application number: 7-2020-21563-F. CIL £48,191.27, this has been paid by the vendor but will be passed on to the new purchaser. Section 106 £1,936.00. All Council contributions to be paid by the purchaser. Note: the CIL and section 106 payments are not included in the purchase price and will need to be reimbursed to the vendor. Building Regs and Structural engineers report will be provided to the proceeding purchaser. The vendor has confirmed that both reports are acceptable and confirm that the existing building is suitable for the proposed work to be completed.
The party wall agreements will be passed over to the purchaser. The vendor will provide conformation that all Meyrick Estates covenants have been satisfied, paid and the new build section of this existing building can be built. Site area 0.110 Hectares. Estimated GDV for the proposed flats is £2,400,000.00. Please ask Andrew Hooper or Robert Smith for further details.
More development & investments available on our web site:
Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1.8% (minimum fee of £2,400) including Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell the finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed) the acquired property or the developed properties on a sole agency basis within three years of completion. If Churchfield are not instructed and the acquisition is sold or Let by the purchaser/s within this period, an additional fee of 1.8% including vat (minimum fee £2,400 including vat) of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed. Once the three year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest.
Churchfield Offer a FREE Selling Service to Vendors of Land and Investments
