Redevelopment or Investment Opportunity. On the instructions of the University of Southampton. Land totalling approximately 0.36. Freehold sale.
The property sits within an urban setting, where the vernacular of the area is predominantly apartment blocks. The site is approximately 0.9 miles north of the city centre, where West Quay shopping centre, various bars and restaurants, a cinema and the leisure centre can be found. National rail services are available via Southampton central train station which is approximately 1.5 miles in a southerly direction. The main University Highfield Campus is 1.4 miles in a north-easterly direction via the A33. Southampton Common, the largest open space in the city at 326 acres, is a short walking distance. The University of Southampton is ranked among the top 1% of universities worldwide.
The site contains a purpose built accommodation block constructed in 1975 which comprises of 15 studio and 84 single study, non en suite rooms, plus 22 parking spaces. The accommodation is fully operational and is currently tenanted with university students, with vacant possession set
for September 2017. Details in relation to current income is available in the Information Pack.
The topography of the site is level with natural tree screening to all boundaries.
Southampton City Council current Local Plan consists of a collection of adopted plans which include the City Centre Action Plan (adopted 2015), Core Strategy, including the changes from the Core Strategy Partial Review (adopted 2015), ‘saved’ policies in the Local Plan Review. There are
also supplementary planning documents outlining more detailed policies. The site is defined dunder policy H14 (Retention of Student Accommodation) within the plan which seeks to protect this use class unless it can demonstrated that either the
accommodation is not needed, it is unsuitable for that use, or a more suitable form of replacement can be provided elsewhere. Southampton City Council have adopted Community Infrastructure Levy (CIL) in July 2013. We understand that
Residential Institutions under Use Class C2, which applies to student accommodation, are not liable for CIL. We have not made any formal enquiries with the local authority. We recommend that interested parties undertake their own investigations with regards to any planning matters.
Southampton City Council: Telephone 023 8083 3001. Website: www.southampton.gov.uk.
METHOD OF SALE
The site is to be offered by informal tender. Offers should be made in writing on the bid proforma provided in the Information Pack. In addition to unconditional offers the vendors are minded to consider offers dependent upon securing a detailed planning approval. The vendors are not obliged to accept the highest or indeed any offer. In the event of an offer being subject to securing
planning for change of use, full details should be provided. They reserve the right to negotiate with preferred bidders where alternative uses are proposed which are considered not to have a detrimental impact in planning terms.The offer deadline is 11:00 am on 24th March 2017. Offers must be submitted in a sealed envelope only clearly marked ‘Offer for St Margaret’s House, Hulse Road, Southampton, Hampshire,
SO15 2JX’ to Carter Jonas, 9/10 Jewry Street, Winchester, SO23 8RZ in accordance with the bid proforma.
The property is freehold and will be sold with vacant possession.
An information pack containing relevant technical and legal information and bidding procedure are available to download from the website:
Prospective purchasers should note that the vendor will expect them to have obtained and carefully considered the contents of the Information Pack prior to submitting their offer.
VIEWI NG A ND ENQUIRIES
Viewings will take place between 09:30 - 12:00, 8th February 2017. We ask that interested parties make a request in advance should they wish to attend. Viewings are strictly by appointment only with the sole agents, Carter Jonas.
T: 01962 833376
T: 01865 404478