Residential Development Opportunity

Sale Type:

Private Treaty

5.41 acres (2.19 hectacres)

Location:

Norfolk, UK

Viewing Information:
The site can be viewed from School Road. Neither the vendor nor the vendors agents are responsible for the safety of any parties viewing the property and such parties do so at their own risk.

School Road, Terrington St John, Norfolk

On the Instructions of the LPA Receivers

Location

On the eastern side of School Road, on the south outskirts of the attractive rural village of Terrington St John.  The village centre is 350m away. There are various period houses and a school on the opposite side of School Road, with farmland adjacent to the south and open green spaces to the east.

The A47 is 1 km to the north, which links to Kings Lynn 6 miles to the north east, and Wisbech 5 miles to the south west.

There are direct train services from Kings Lynn to Cambridge (50 mins) and London Kings Cross (1 hr 45).

Description

The site comprises two irregular shaped parcels of flat land positioned either side of a school playing field.  The land is currently scrub land with each parcel accessed from School Road over a drainage ditch.

Site Areas

Northern Section – 4.59 acres  1.86 hectares

Southern Section – 0.82 acres  0.33 hectares

Total –                      5.41 acres  2.19 hectares

Tenure

The property is held freehold under title no NK471754.

Planning

Outline planning consent was granted in May 2016 (ref 15/00438/OM) for ‘Residential development of 35 houses and new sports and social field including dedicated parking for Terrington St John primary school.’

Approval for the reserved matters was granted in October 2018 (ref 17/12335/RMM).  There are various pre commencement conditions requiring approval by the Local Authority – the Borough Council of King’s Lynn & West Norfolk

The development has been implemented, which has been recognised by the Local Authority, who are in the process of confirming this position in writing.

The S106 agreement is dated 17th May 2016 and details the following:

  • A 20% affordable housing contribution (70% rented, 30% shared ownership or any other form of intermediate housing.
  • An area of land within the development is to be used as a surfaced car park exclusively by Terrington St John primary school.
  • An education contribution of £3039 per multi bed house.
  • A library contribution of £60 per dwelling.
  • An area of open space of not less than 17 sq m per dwelling is to be provided within the site.

Data Room

Numerous documents are available in the data room. Access is available via the sales agents.

The Consented Scheme

35 Dwellings as follows:

Alternative Schemes

Plans have been drawn up for various alternative schemes which increase the housing density, summarised as follows:

1 – an additional 9 bungalows

2 – 45 houses

3 – 60 houses (Housing Association)

Plans are provided within the data room.

Plans have also been drawn for the development of 6 houses on an area of land to the south east of the site which is under third party ownership.

Further Information

Additional information is available in the data room.  Access will be provided on request.

Legal Costs

Each party is to bear their own legal costs.

Sale Process

It is intended that the property will be sold by way of private treaty.

The LPA Receivers are not bound to accept the highest, or indeed any offer received.

Terms

Offers are invited for the freehold interest. The vendors preference is to accept an unconditional offer, however offers which are subject to planning will also be considered.

Contacts

Ed Jeffery MRICS

Associate Director

London Office

+44 (0) 7923 221212

ejeffery@hilcoglobal.eu

Nick Hughes MRICS

Director

London Office

+44 (0) 7979 541238

nhughes@hilcoglobal.eu