Land For Sale £150,000
AVAILABLE: £160,000 + VAT For Sale by Public Auction on26/04/2023
Location:
The site is located in Highfields just off St Saviours Road and near Spinney Hill Park. There is also pedestrian access from between 174 and 176 St Saviours Road.
Description:
A site of approximately 0.133 acres (646 sqyds) providing approximately 8 car parking spaces. The site is suitable for residential development of 2 houses or 4 flats subject to planning.
Planning:
The contract will include a restrictive covenant limiting development for residential use (new build) only, subject to planning.
The purchaser shall obtain planning permission within 6-9 months and residential development is to be completed on the site within 2 years of legal completion of the sale and if not, then the Council will have the right to re-purchase the site at the sale price or at its then market value, whichever is the lower.
The contract will include an Overage Clause for a 25 year period stating that if the residential development includes for in excess of 2 houses or 4 flats, then an overage payment of 25% of the agreed sale price (subject to an upward only indexation in line with any increase in the Consumer Prices Index between the date of legal completion and date of payment of the overage) would be payable to LCC per additional dwelling.
The Purchaser will be responsible for any demolition and site clearance within 6 months of legal completion of the purchase. The purchaser will be responsible to erect a fence of 1.8m or 2m (subject to planning) in height or the boundary treatment is made up of retained walls from the existing buildings in order to separate off the site from the neighbouring properties.
The full Development Guidance is included in the sale pack.
Local Authority: Leicester City Council[use Contact Agent Button].
Note
The Council reserves the right to exercise an option to tax on the sale site prior to completion.
The sale will be subject to the Buyer paying the Seller's legal and surveyor's fees of 1% each plus VAT.
No offers will be accepted on this lot prior to the auction.
Tenure
Freehold.
Solicitors
Legal Services, Leicester City Council, City Hall, 115 Charles Street, Leicester LE1 1FZ ~ [use Contact Agent Button] ~ Ref: B Sonrat
Location:
The site is located in Highfields just off St Saviours Road and near Spinney Hill Park. There is also pedestrian access from between 174 and 176 St Saviours Road.
Description:
A site of approximately 0.133 acres (646 sqyds) providing approximately 8 car parking spaces. The site is suitable for residential development of 2 houses or 4 flats subject to planning.
Planning:
The contract will include a restrictive covenant limiting development for residential use (new build) only, subject to planning.
The purchaser shall obtain planning permission within 6-9 months and residential development is to be completed on the site within 2 years of legal completion of the sale and if not, then the Council will have the right to re-purchase the site at the sale price or at its then market value, whichever is the lower.
The contract will include an Overage Clause for a 25 year period stating that if the residential development includes for in excess of 2 houses or 4 flats, then an overage payment of 25% of the agreed sale price (subject to an upward only indexation in line with any increase in the Consumer Prices Index between the date of legal completion and date of payment of the overage) would be payable to LCC per additional dwelling.
The Purchaser will be responsible for any demolition and site clearance within 6 months of legal completion of the purchase. The purchaser will be responsible to erect a fence of 1.8m or 2m (subject to planning) in height or the boundary treatment is made up of retained walls from the existing buildings in order to separate off the site from the neighbouring properties.
The full Development Guidance is included in the sale pack.
Local Authority: Leicester City Council[use Contact Agent Button].
Note
The Council reserves the right to exercise an option to tax on the sale site prior to completion.
The sale will be subject to the Buyer paying the Seller's legal and surveyor's fees of 1% each plus VAT.
No offers will be accepted on this lot prior to the auction.
Tenure
Freehold.
Solicitors
Legal Services, Leicester City Council, City Hall, 115 Charles Street, Leicester LE1 1FZ ~ [use Contact Agent Button] ~ Ref: B Sonrat
