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Residential Development
DRAFT DETAILS
The property comprises a 2,000 sq.m site or thereabouts accessed off King Street in Bedworth close to the junction with Kings Gardens. The site is partially cleared and has full planning permission for 30 units. We have been advised that all planning conditions have been discharged. We have also been advised that work has already commenced on 6 of the apartments.
The site has not been inspected by the auctioneers and we would advise interested parties to inspect the planning documents and the site.
Planning permission granted for 30 flats (12 + 18). The relevant planning numbers are 035471, 035214, 035826 accessible on the Nuneaton and Bedworth Borough Council planning portal.
We are informed of the following information:
12 flats:
6 new build - Piling done for raft
6 conversion - Conditions discharged and some construction already commenced prior to lockdown.
18 Flats:
8 new builds and 10 conversions - Full planning permission due to expire early next year.
One part of the land is still vacant and planning for about 8-10 flats can be applied for with the council, which will add to overall profits.
The site is located off King Street within walking distance to Bedworth town centre and next to the Bedworth train station with connections to Birmingham city centre and Coventry city centre along with excellent bus and motorway links within the vicinity.
Services are believed to be available within the vicinity of the site however, interested parties should independently satisfy themselves as to the availability and suitability of any services for their specific requirement.
We are advised that VAT will not be chargeable on this transaction.
The site is open for viewings.
Vacant.
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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