High Street, Needham Market, Ipswich, Suffolk IP6

Price On Application

Development opportunity in established residential location, potential for residential development (subject to planning), site area 0.37 areas (0.15 hectares), informal tender Monday 24th April 2017

Description

RESIDENTIAL DEVELOPMENT OPPORTUNITY

• Development opportunity in established residential location

• Potential for residential development (subject to planning)

• Site area 0.37 acres (0.15 hectares)

• Site located within Mid Suffolk District Council

• Informal Tender Monday 24th April 2017

FORMER CAR SHOWROOM, HIGH STREET, NEEDHAM MARKET, IPSWITCH, IP6 8AP

THE OPPORTUNITY

The site is a former car showroom. It has the potential for residential development subject to planning and is being sold as seen with vacant possession, subject to planning.

The site edged in blue on the plan, in addition there is a 3 bed house (i.e. no 28 – edged in red on the plan) being offered for sale freehold by informal tender. The existing 3 bed house can either be included or excluded within the sale. Offers for the freehold interests are invited by 12 noon on 24 April 2017.

The conditional contract entered into will be for a period of 12 months with the right to extend for a further 12 months if a planning application or appeal is outstanding.

LOCATION

Needham Market is a highly sustainable and popular town with facilities including a railway station, shops, schools (both primary and middle), village hall, business park, post office, doctor’s surgery and a range of sports facilities.

Needham Market is located approximately 9 miles to the north of Ipswich and approximately 3.4 miles to the south east of Stowmarket which provide sources of employment, retail and leisure facilities. Needham Market benefits from easy access to the A14 / A140 / A12 regional road network. The station provides trains to Ipswich, Cambridge, Peterborough and London.

The site is located on the High Street in a popular residential location, which has seen the development of new housing schemes in recent years including the new housing development immediately to the north of the site on Jubilee Crescent.

THE SITE

The site extends to a total of approximately 0.37 acres (0.15 hectares) excluding number 28 High Street. The site is irregular in shape, largely flat, with no landscape features of any special merit. The site, edged in blue on the plan, contains two buildings, which were utilised as a car showroom.

In addition a 3 bed house (i.e. no 28), edged in red on the plan, can either be included or excluded within the sale.

PLANNING

The site lies within the jurisdiction of Mid Suffolk District Council.

The site does not benefit from planning permission, though the location of the site is ideally suited to a residential development subject to planning consent.

James Tipping within the planning team at Carter Jonas has prepared a planning note which can be found within the drop box.

The site is being sold on a subject to planning basis which will enable the purchaser(s) to apply for their own design. All bids should include a sketch scheme showing the position of the units on the site indicating the size of the built area.

It is the owner’s preference that the Carter Jonas planning team are seconded to the purchaser’s professional team and fees to assist with the application will need to be agreed separately. The purchaser will be responsible for all costs involved in securing the planning consent.

The planning application and associated documents and plans to be instructed jointly in the names of the purchaser and the owners.

It is anticipated that the planning application will be submitted after 4 months of the conditional contract being entered into.

It should be noted that affordable housing will not be required for 15 units or less in Needham Market.

TENURE

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

A copy of the Registered Title is included within the drop box.

VAT

The site marked in blue on the plan is elected for VAT, however the residential house, 28 High Street, marked in red on the plan is not elected for VAT.

PRICE

The land value will be reference by a figure per square foot of the consented building which will be agreed for the freehold interest, subject to a minimum land value.

A 5% deposit will be required upon exchange of contracts.

A figure of £3,500 plus VAT for the agent’s fees is to be paid on exchange of conditional contract and will not be deducted from the price.

INFORMATION PACK

A drop box for additional information has been created with access details from the agents. The information includes:

• Title number SK224428

• Informal tender document

• Carter Jonas Planning Note

TIMINGS

Informal tender date – 24 April 2017

Interview date – 1 May 2017

Agree preferred purchaser and instruct solicitors – 8 May 2017

Meeting with parties, solicitors and principles – 29 May 2017

Exchange of contracts – 19 June 2017

Completion – 10 days after the grant of an unchallenged planning permission.

METHOD OF SALE

Informal bids are to be submitted by 12 noon on 24 April 2017. Full details can be found in the drop box.

VIEWINGS

Arrangement can be made through the agents.

FURTHER INFORMATION

For additional information, please contact Nick Muncey on nick.muncey@carterjonas.co.uk. Telephone number 01223 326817 or Anish Jadav on anish.jadav@carterjonas.co.uk. Telephone number 01223 326801.

For information about planning please contact James Tipping on 01223 558031, or alternatively you can email on james.tipping@carterjonas.co.uk.

Res Dev East

01223 326550

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