For SaleResidential Development Land

Land East of Artiss Close & Rotherham Road, Bildeston, Suffolk, IP7 7BF

Description

A level, roughly rectangular shaped site extending in total to approximately 2.93 hectares (7.24 acres), currently classified as Grade 3 agricultural land.

The site has a frontage to the B1078 Ipswich Road of 120m (394 ft) which is also from where the site will take its vehicular access, an average width of 108m (354 ft) and a depth from Ipswich Road to its northern boundary of 235m (771 ft).

TOWN AND COUNTRY PLANNING

Outline Planning Permission was granted on 20th October 2017 for the erection of 48 dwellings, with detailed consideration of the access Application number B/15/01433). A copy of the Planning Permission is available on request. There is an S106 Agreement requiring the payment of £189,971 and an Affordable Housing provision of 35%.  Further details on request. 

LOCATION

The site is situated on the south eastern edge of affluent village of Bildeston, which lies about 5 miles to the north of Hadleigh, 11 miles to the north east of Sudbury, and 15 miles north west of Ipswich.

Access to the A12 and A14 roads are close by and Manningtree Station (14.5 miles away) provides a regular, direct service to London Stratford (for Crossrail) and London Liverpool Street, in circa 60 minutes.

The village has a population of circa 1,000 and is one of 10 ‘Core Villages’ located within the District of Babergh. It offers a good range of local services including a primary school, medical centre, general store and post office and 3 pubs, including the award winning and nationally renowned Bildeston Crown Hotel.

INFORMATION/LEGAL PACK

An information/legal pack is available on request.

OVERAGE PROVISION

There will be an overage provision incorporated into the sale documentation under which the purchasers or their successors in title will be required to make an overage payment to the vendors in the event that a revised Planning Application is successful, that increases the density of development on the site, or any part thereof, beyond the 48 units permitted under the existing Outline Planning Permission or are successful in negotiating with the Planning Authority a reduction in the S.106 obligation/costs, from what is set out in the existing S.106 Agreement. 

The overage payment is to equate to 50% of any uplift in the value of the land, between the value with the benefit of the existing consent and the value under the new Planning Permission.

In the event that the payments/obligations set out in the existing S.106 Agreement are successfully reduced, then the overage payment will be based on 50% of the savings negotiated. This overage will remain in place for a minimum of 10 years from completion of the initial sale of the site.

TENURE

Freehold with vacant possession on completion of land edged red on Ordnance Survey plan opposite and a right of way into perpetuity over the land shaded blue.  The site area set out includes both areas.

LEGAL COSTS

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

VAT will be payable on the purchase price at the prevailing rate.

METHOD OF SALE

The site is being offered for sale by way of an Informal Tender, with offers to be submitted on the Tender Form available from the Agent and received at the offices of Banks Long & Co no later than 12 noon on Friday 11th May 2018.

Offers are invited for the whole site edged in red on the site plan on the rear of the Tender Form.

Unconditional offers will be preferred but Conditional offers will be considered. In the case of Conditional bids, the conditions attached to the offer must be clearly set out on the Tender Form.

Offers must be made for fixed sum unrelated to any other offer or event. Offers received by email will be acceptable.

PLEASE NOTE THAT THE VENDORS DO NOT BIND THEMSELVES TO ACCEPT EITHER THE HIGHEST OR ANY OTHER OFFER RECEIVED.