For SaleResidential Development Site

Linwood Road, Market Rasen, Lincolnshire, LN8 3QE

Description

A roughly rectangular level parcel of land extending in total to about 1.87 hectares (4.62 acres).

The site is currently utilised as grazing land, but Outline Planning Permission was obtained in June 2018 for the erection of up to 45 dwellings on the site.

LOCATION

The site is situated on the eastern side of Linwood Road, a short drive to the south of Market Rasen town centre. Both the town train station and Tesco Superstore are located on Linwood Road to the south of the Town Centre.

Market Rasen is a popular Market Town situated mid-way between Lincoln and Grimsby, around 18 miles to the south and north respectively, via the A46 trunk road. The town sits on the southern edge of the Lincolnshire Wolds, an area of outstanding natural beauty and offers a good range of local amenities and is the home of De Aston School, one of the best regarded secondary schools in the County.

The site is situated in a attractive semi-rural location on the southern edge of the Town, with a modern housing estate to the north developed by Hugh Bourn some years ago and views over open farm land to the east and south.

SERVICES

We understand that mains supplies of water, drainage, electricity and gas are available in the vicinity of the site, but interested parties are advised to make their own enquires to the utility providers to ascertain the exact location and capacity of each supply in the area.

TOWN AND COUNTRY PLANNING

The site has Outline Planning Permission for the erection of up to 45 dwellings, granted in June 2018 by West Lindsey District Council Reference Number 137054. All other matters are reserved for subsequent applications. The Planning Permission is subject to a Section 106 Agreement that provides for 20% affordable housing, a £21,000 NHS contribution, £101,000 education contribution and £45,000 of archaeological works.

The site is not situated within a Conservation Area.

TENURE

Freehold – with vacant possession on completion.

GUIDE PRICE

Offers are invited in excess of £1,000,000

METHOD OF SALE

The site is being offered FOR SALE by way of a Private Treaty with offers invited on an unconditional basis although offers made on a conditional subject to planning basis will also be considered.

VAT may be charged in addition to the sale price at the prevailing rate.

OVERAGE PAYMENT

If the purchasers are able to secure more beneficial Planning Permission through increasing the density of development permitted on the site or by reducing the Section 106 costs, then a further payment of 50% of the resulting uplift in value will be payable by the purchasers or their successors in title for a period of 10 years from completion, to the vendors.

LEGAL COSTS

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