Residential Development
Situated on a brownfield site located off Denby Dale Road and within walking distance of Wakefield city centre and offers excellent commuter links.
The site is ready to begin construction and the proposed residential development involves the demolition of existing industrial buildings and a derelict house to form 41 new residential units comprising 1 and 2 bed apartments within 4 separate blocks together with associated landscaping and 58 parking spaces.
Demand for this type of property within the Wakefield area is high and the site would be a great built to rent which would give an estimated rental income of around £230,000 per annum. The final development value is estimated to be round £3.8 million.
Detailed outline planning consent was granted on 6th December 2019. Full planning is not now required. For the erection of four blocks containing 12 two bed apartments and 29 one-bed apartments with associated parking offering 58 spaces under application number 18/02881/OUT.
Drawings and associated documents can be viewed and downloaded from the Wakefield Planning Portal.
The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
Freehold.
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.
