Newmarket Road, Cambridge, Cambridgeshire CB5

Price On Application

Site area 0.013 hectares (0.034 acres), full planning for four dwellings, prime central location, for sale freehold

Description

CENTRAL CAMBRIDGE RESIDENTIAL DEVELOPMENT OPPORTUNITY WITH PLANNING

• Site Area 0.013 hectares (0.034 acres)

• Full planning for four dwellings

• Prime central location

• For sale freehold

161 NEWMARKET ROAD, CAMBRIDGE, CB5 8HA

THE OPPORTUNITY

The site is being offered for sale freehold with vacant possession with the benefit of planning permission (Reference 16/1514/FUL) for the erection of four self contained flats and associated works and infrastructure.

There is an adjoining parcel of land held on lease that will be available on a sub-lease at a rental to be agreed to the buyer to assist in providing a works compound, welfare accommodation, access and storage during construction.

LOCATION

The site is situated on one of the main arterial roads into Cambridge in an area that has seen considerable growth in recent years including Travelodge Hotel, Premier Inn Hotel, Beacon Rise Residential Development, Nidus Mixed Use Development. The site is also close to the former Wests Garage site which is being developed for student accommodation.

THE SITE

The site has a direct frontage onto Newmarket Road of circa 9.5m and an average depth of circa 11.7m. The site has been cleared and is reasonably level with no distinguishing features.

The vendors have taken a short term lease on the adjoining site which would make an excellent compound during the building process (see above).

PLANNING

Full planning permission was granted on 5 December 2016, planning reference 16/1514/FUL, for the erection of four self contained flats and associated works and infrastructure.

Copies of the planning consent are available in the Dropbox together with various technical reports. It should be noted that no Section 106 Agreement is attached to the planning consent.

Accommodation (GIA)

Flat 1 Lower Ground Floor - 21.52m2 (231sqft)

Flat 1 Ground Floor - 24.30m2 (261 sqft)

Flat 1 total - 45.82m2 (492sqft)

Flat 2 Lower Ground Floor - 21.68m2 (233sqft)

Flat 2 Ground Floor - 14.66m2 (157sqft)

Flat 2 Total - 36.34m2 (390sqft)

Flat 3 First Floor - 32.2m2 (346sqft)

Flat 3 Second Floor - 12.65m2 (136sqft)

Flat 3 Total - 44.76m2 (482sqft)

Flat 4 First Floor - 23.20m2 (249sqft)

Flat 4 Second Floor - 9.30m2 (100sqft)

Flat 4 Total - 32.5m2 (349sqft)

TENURE

The main site is being offered for sale freehold with vacant possession.

The adjoining site is being offered by way of sublease to 3rd July 2018 at a rental to be agreed.

VAT

The property has been elected for VAT and VAT will therefore be charged on the purchase price.

ADDITIONAL INFORMATION

A full information pack and a Dropbox set up, the information included is:

• The Planning Decision Notice

• The Approved Planning Drawings

• Acoustic Assessment - Cass Allen

• Phase 1 and 2 Geo-Environmental Assessment - eps

• Topographical Survey

• Registered Title - Title No: CB379107

• Copy of Lease dated 14 August 2016

• Draft Contract

• Draft CPSEs

• Letters of Reliance from the Various Professional Teams

• Carter Jonas' New Homes Report on Sales Values

PRICE

Offers in excess of £400,000 are invited for the freehold interest.

The sub-lease of the adjoining land is to be by agreement.

FURTHER INFORMATION

For further information please contact:

Nick Muncey either by phone: 01223 326817 or email: nick.muncey@carterjonas.co.uk

or

Anish Jadav telephone number: 01223 326801 or email: anish.jadav@carterjonas.co.uk

For new homes advice please contact:

Mark Wood telephone: 01223 403331 or by email mark.wood@carterjonas.co.uk

Res Dev East

01223 326550

6-8 Hills Road
Cambridge
Cambridgeshire CB2 1NH