Land
DRAFT DETAILS
An excellent opportunity to acquire a unique former Water Tower with full planning consent to provide 13 generously sized apartments with 1 beds ranging from 560 sq ft - 640 sq ft, and 2 beds from 673 sq ft to 1272 sq ft. The water tower itself is to be converted to provide 2 apartments with a further 3 new build units within proposed “wings” to the tower. There are a further 8 apartments within two new build blocks within the grounds.
There are no S.106 or CIL payments to be made in relation to the planning. Furthermore there are no affordable housing requirements.
The Tower, dating from the Art Deco era, fronts Goldstraw Lane, one of the main estate roads opposite Ruby’s walk, in the heart of the new and desirable Fernwood residential development, which lies on the outskirts of the popular village of Balderton, two miles south of Newark.
Although the auctioneers have not internally inspected the tower itself, we believe the building footprint to be approximately 65.36m2 (703sq ft). The building sits on an L shaped site of approximately 0.15 Hectares (0.37 acres).
The planning application and drawings can be viewed at Newark and Sherwood District Council planning department, Planning ref: 18/00474/FULM.
External viewings only.
Freehold. Vacant possession upon completion.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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