For Sale - Under OfferResidential Development Land

Residential Development Land, Mareham Road, Horncastle, Lincolnshire, LN9 6RH

Description

The property comprises a substantial parcel of greenfield residential development land located on the south eastern side of the Town in what is a well established residential location.

There is a Detailed Planning Permission on Phases 1 and 2 of the land for 52 dwellings, to enable development to start on site immediately.

In our opinion there is scope for increasing the number of dwellings on the remaining Phases 3, 4 and 5 of the site by up to 104 additional units, meaning the site could accommodate 156 units in total, subject to the receipt of the necessary planning permission.

Please see the Masterplan attached

SITE AREAS

(Based on the phasing plan opposite)
Phases 1 and 2 extend to 3.77 hectares (9.32 acres)
Phases 3, 4 and 5 extend to 5.27 hectares (12.68 acres)

Total Site Area:   9.04 hectares (22 acres)

LOCATION

Horncastle is a popular Lincolnshire Market Town located about 22 miles east of Lincoln. The Town has a population of circa 6,500 and lies to the south of the Lincolnshire Wolds, a designated area of outstanding natural beauty.

The Town offers a good range of local amenities including the highly regarded Queen Elizabeth Grammar School and is well known throughout the country as a centre for antique sales.

The Town sits at the crossroads of two of Lincolnshire’s major roads, the A158 which joins the City of Lincoln with the County’s East Coast resorts and the A153 which joins Horncastle to Louth in the north and Sleaford/Grantham in the south. Woodhall Spa and its internationally renowned golf courses is also located about 5 miles away.

Other amenities in the town include a Tesco and Co-op supermarkets and a wide variety of other local retailers.

VAT

VAT will be charged in addition to the purchase price at the prevailing rate.

TOWN AND COUNTRY PLANNING

Outline Planning Permission was granted on Appeal under reference APP/D2510/A/14/2228085, which allows for the development of 52 houses on Phases 1 and 2.

There is the potential to alter the Planning Permission to accommodate further dwellings on Phases 3, 4 and 5. As stated above, in our opinion (and the technical data supports this), the site is capable of accommodating up to 156 units in total, subject to the receipt of the necessary Planning Permission.

Full details of the Planning Permissions and the associated technical reports and information are available on request from the joint Agents. 

There is an S106 Agreement in place, but this is currently being renegotiated with the Local Planning Authority and further information can be provided on request. 

The Planning Application can be viewed on the ELDC Planning Portal under reference S/086/02478/12.

TENURE

Freehold with vacant possession on completion.

Please note the site has rights of drainage to the Thunker Drain from the north west corner in a north westerly direction and an easement from the northern ditches in a northerly direction.

The Vendors will also retain unencumbered access to their retained land to the north. Further information is available on request.

METHOD OF SALE

The property is being offered For Sale by way of a Private Treaty

Unconditional offers are invited for Phases 1 and 2.

The balance of the site comprising Phases 3, 4 and 5 is available by way of separate negotiation and the Vendors would consider conditional approaches for the remaining phases of the site (to include phased payments).

PRICE

Unconditional offers are invited in excess of £575,000 for Phases 1 and 2 of the site

Offers are invited for the remainder of the site, forming Phases 3, 4 and 5

LEGAL COSTS

Each party is to be responsible for their own legal costs incurred in documenting the transaction.

VIEWING

The site can be viewed from the road during daylight hours. 

For any additional information please contact the joint agents.