TOWN CENTRE DEVELOPMENT SITE WITH PLANNING FOR 21 FLATS

Little London, Newport PO30 5BS, UK

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For Sale - Land / Miscellaneous
Tenure: FreeholdLocation: Newport Download Property Details

LOCATION

A rare opportunity to acquire an undeveloped site in central Newport, situated 0.4 miles distant from the town centre and therefore well placed for a wide variety of amenities. Little London is close to Newport Harbour and overlooks the River Medina. Access to the property is via a tarmac drive off Little London Road.

DESCRIPTION                 

The site is at present occupied by a former warehouse with its supporting offices on a plot extending to 0.22 hectares (0.56 acres). The conclusion of a recently completed ground investigation study indicates that “there is no significant potential soils contamination”.  Planning Consent has been obtained for demolition of a section of the existing building and conversion of the remainder of the existing structure to form 21 residential units along with 23 car parking spaces of which we understand material works are underway. It is considered the flats will be ideally suited to resale into the local market or for retention for their income producing potential.

PLANNING                             

Planning Permission has been granted by the Isle of Wight Council, under ref: P/01398/12-TCP/06124/H dated 24th December 2012, for demolition of section of building; alteration, extension and conversion of redundant industrial building to form 21 residential units to include associated access, parking, cycle and refuse stores, landscaping and amenity areas, subject to conditions.

PROPOSED ACCOMMODATION          

Typically, each one-bedroom flat will comprise Entrance Hall, Living Room, Kitchen, Bedroom and Bathroom with WC. Each two-bedroom flat will comprise Entrance Hall, Living Room, Kitchen, 2 Bedrooms, en-suite Bath/Shower Room with WC and Family Bathroom with WC.

Due to the shape and nature of the property, some of the accommodation will be varied from the above.  The Planning Consent allows for 23 car parking spaces, along with landscaping, bike and bin stores and communal areas.

RATEABLE VALUE

The property is listed on the Valuation Office Agency website with a Rateable Value of £2,550 (April 2010). Interested parties should make enquiries of the local authority to verify the business rates payable.

PRICE                              

Offers invited.

 

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FINANCE ACT 1989

Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (VAT). Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

IDENTIFICATION

Under Money Laundering Regulations, we are obliged to verify the identity of a proposed Tenant or Purchaser prior to instructing solicitors. This is to help combat fraud and money laundering and the requirements are contained in statute. A letter will be sent to the proposed tenant or purchaser once terms have been agreed.

IMPORTANT NOTE

These property particulars are intended as general guidance for prospective lessees or purchasers. They do not constitute all or any part of an offer or contract. James and Sons, either for themselves or as agents on behalf of the lessor or vendor give no warranty as to the accuracy of any of the information contained herein. All descriptions, measurements, references to condition and statements as to planning use and permissions or other matter contained in these particulars are given in good faith and are believed to be correct but their accuracy is not guaranteed and should not be relied upon as fact without independent verification. No person in the employment of James and Sons has any authority to make any representations or warranty (verbal or otherwise) in respect of this property and any intending lessee(s) or purchaser(s) should make their own independent enquiry and investigations and inspections to verify the accuracy or otherwise of any information. At no time has any structural or other survey been carried out and no services or appliances have been tested. Interested parties should satisfy themselves as to the structural integrity of the property and the condition and working order of all services, appliances, fixtures and fittings.