FOR SALE - DEVELOPMENT OPPORTUNITY (Subject to Planning) HARLAXTON ROAD, GRANTHAM, LINCOLNSHIRE, NG31 7AJ
Total Page:16
File Type:pdf, Size:1020Kb
On behalf of FOR SALE - DEVELOPMENT OPPORTUNITY (subject to planning) HARLAXTON ROAD, GRANTHAM, LINCOLNSHIRE, NG31 7AJ Aerial Photo of the Property looking North West (red line for identification purposes only) . Circa 4.74 acres (1.92 hectares) income producing development opportunity . Current passing rent £60,000 per annum with right of termination . Less than 0.5 miles from town centre and train station and 1 mile from the A1 . Development potential for a range of uses (subject to planning) BNP Paribas Real Estate, Fountain Precinct, Balm Green, Sheffield, S1 2JA Tel: +44 (0)114 263 9200 Fax: +44 (0) 114 263 9244 On behalf of Location Grantham is a Lincolnshire market town with a population of circa 45,000 (source 2016 ONS Ward-level population estimates), understood to have been established as a centre for regional trade and civil and criminal justice between the 10th and 12th centuries. Today, Grantham is an important sub-regional centre and provides a range of key services for southwest Lincolnshire, including employment, shopping, education and leisure. The two grammar schools in Grantham (Kesteven and Grantham Girls’ School and King’s School) were named in the top 10 performing state secondary schools in the East Midlands in Parent Power, The Sunday Times Schools Guide 2019. Linked to this, the town’s good road and rail links (see below), surrounding countryside and woodland, Grantham is an attractive location for both employers and commuters. The A1 motorway runs immediately to the east of Grantham offering access to Nottingham via the A52, Lincoln via the A46 and Peterborough via the A47. Grantham itself is approximately 24 miles east of Nottingham, 25 miles south of Lincoln and 34 miles north of Peterborough. Grantham train station is served by the East Coast Mainline operating between London and Edinburgh, as well as the Nottingham to Skegness line, offering direct links to Nottingham (30 min.), London (1 hr.15), Leeds (1 hr.), Sheffield (1hr. 40) and Manchester (2hr. 30). Location Plan (Property identified by red dot for identification purposes only) BNP Paribas Real Estate, Fountain Precinct, Balm Green, Sheffield, S1 2JA Tel: +44 (0)114 263 9200 Fax: +44 (0) 114 263 9244 On behalf of Location Plan (Property identified by red dot for identification purposes only) The Property The Property is located less than 0.5 miles to the south of Grantham town centre and west of the train station. It sits on the southern edge of the Old Wharf Industrial Estate surrounded to the south, east and west by a mixture of housing and apartments, as well as allotments and Grantham Family Centre. The Isaac Newton Shopping Centre and a Morrisons supermarket are both less than 0.5 miles to the north of the Property. St Wulfram’s Church, built 1100-1450 on the site of a previous Saxon church, is located further north within the town centre Conservation Area, with its steeple visible from the Property. The freehold title of the Property extends to approximately 4.74 acres (1.92 hectares) as edged red on the Site Plan below. This excludes the area edged and hatched red, which is a Cadent Gas owned compound and is not for sale. The existing access to the Property from the A607 Harlaxton Road to the east is via a private road, which includes a bridge over the watercourse (Mow Beck). Cadent Gas has the benefit of a right of access over the private road between the gas compound and Harlaxton Road (see brown shading on the Land Registry title plan for the Property). Harlaxton Road provides easy access from the Property to the surrounding area, including the town centre and train station, as well as the A1 (circa 1 mile to the southwest). The majority of the Property is leased to William Hare Painting Limited for open storage use until July 2021 at a current passing rent of £60,000 per annum (lease plan available by request). This lease includes a right of access over the private road from Harlaxton Road and a right of termination on at least 6 months’ notice from the leaseholder and 9 months’ notice from the freeholder. BNP Paribas Real Estate, Fountain Precinct, Balm Green, Sheffield, S1 2JA Tel: +44 (0)114 263 9200 Fax: +44 (0) 114 263 9244 On behalf of Site Plan (red line for identification purposes only) Development Considerations The local planning authority is South Kesteven Council, with the Local Development Framework (LDF) Core Strategy adopted in 2010 and the Site Allocation and Policies Development Plan Document adopted in 2014. On the LDF Proposals Map, the Property is located within the defined Grantham urban area but not allocated for development. The Property is also not located within or immediately adjacent to a Conservation Area, with no buildings on or immediately adjacent to the Property listed as of special architectural or historic interest. Policy H3 of the Core Strategy requires affordable housing provision for all developments comprising 5 or more dwellings, with a target of up to 35% of the scheme being affordable for developments of over 14 dwellings. According to South Kesteven Council’s website, a decision has not yet been made on whether to introduce a Community Infrastructure Levy. WYG has prepared an Access Review for the Property. This includes a proposed vehicle and pedestrian access layout with a one-way arrangement over the bridge, which would support the residential or commercial development of the Property, subject to Council approval. For further information on planning please contact South Kesteven Council’s planning department direct. Tel: 01476 40 60 80 Email: [email protected] Gas pipelines and other utilities run under parts of the Property and interested parties are encouraged to make enquiries with the utilities providers for up to date information on these. BNP Paribas Real Estate, Fountain Precinct, Balm Green, Sheffield, S1 2JA Tel: +44 (0)114 263 9200 Fax: +44 (0) 114 263 9244 On behalf of Aerial Photo of the Property looking north (red line for identification purposes only) Further Information Further information relating to the Property is available at http://www.ngpp.co.uk/, including the following: Topographical Survey Access Review and Layout Ground Reports National Grid’s Environmental Provisions Services Plans (2015) Gas Pipe Easement Plan Title Plan and Register Lease Plan Leases, Licences & other Legal Agreements Highways Search Method of Sale Offers are invited by way of informal tender for the freehold interest in the Property with limited title guarantee and subject to National Grid’s Environmental Provisions. Both conditional and unconditional offers will be considered and these must be submitted to Alex Willis at BNP Paribas Real Estate no later than 12 noon on 28 June 2019 (email offers are acceptable) and should include the following information: BNP Paribas Real Estate, Fountain Precinct, Balm Green, Sheffield, S1 2JA Tel: +44 (0)114 263 9200 Fax: +44 (0) 114 263 9244 On behalf of . Details of any conditions attached to the offer, as well as the steps necessary to remove the conditions and the anticipated timescales for doing so; . Confirmation that National Grid’s Environmental Provisions are accepted, and that the lease, licences, legal rights, covenants, easements and wayleaves relating to the Property and the other further information (all available at http://www.ngpp.co.uk/) has been taken into account in the offer; . Details of sales revenue overage, sell-on overage and / or planning clawback proposed; and . Solicitors details and full evidence of financial ability to complete the purchase. The vendor does not undertake to accept the highest nor any offer. Where an offer is made by an agent it must be accompanied by a letter from their principal outlining and confirming the basis of the offer made. Viewings On-site inspections are strictly by appointment only. Please contact the vendors’ sole agent BNP Paribas Real Estate to arrange an inspection or for additional information. Aerial Photo of the Property looking west (red line for identification purposes only) BNP Paribas Real Estate, Fountain Precinct, Balm Green, Sheffield, S1 2JA Tel: +44 (0)114 263 9200 Fax: +44 (0) 114 263 9244 On behalf of ALEX WILLIS DAVID COUCH Senior Associate Director Director Development Consulting Development Consulting +44 (0) 114 263 9210 +44 (0) 114 263 9221 [email protected] [email protected] Important notices Misrepresentation Act 1967: BNP Paribas Real Estate Advisory & Property Management UK Limited for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1. These particulars do not constitute, nor constitute any part of, an offer or contract. 2. None of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact. 3. Any intending purchaser or lessee must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor(s) or lessor(s) do not make or give and neither BNP Paribas Real Estate Advisory & Property Management UK Limited nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property. Finance Act 2013: Unless otherwise stated all prices and rents are quote exclusive of VAT. The Business Protection from MisleadingBNP Marketing Paribas RealRegulations Estate, 2008: Fountain These Precinct,details are Balmbelieved Green, to be Sheffield,correct at the S1 time2JA of compilation but may be subject to subsequent amendment.Tel: +44 (0)114 263 9200 Fax: +44 (0) 114 263 9244 .