May 2018
La Residential Development Opportunity
For Sale by Informal Tender
Illustrative Masterplan Land at Peashill Farm, Ratcliffe Road, Sileby
With outline planning permission for up to 170 residential units
Unconditional offers invited by 12 noon Wednesday 27th June 2018
savills.co.uk
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
Contents
1. INTRODUCTION 1 2. LOCATION 1 3. DESCRIPTION 2 4. ACCESS 3 5. PLANNING 3 6. TECHNICAL 5 7. TENURE / VACANT POSSESSION 9 8. OVERAGE 10 9. RIGHTS OF WAY 10 10. VIEWINGS / MEETING WITH SAVILLS 10 11. BIDS 10 12. TIMING 11 13. VAT 11 14. IMPORTANT NOTICE 11 15. FURTHER INFORMATION 12
Appendices
APPENDIX 1: Information Pack Index
Offers due by 12 noon on Wednesday 27th June 2018 1
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
1. INTRODUCTION
On behalf of the Landowner and Barwood Development Securities Ltd, Savills (UK) Ltd (‘Savills’) is pleased to offer for sale the freehold interest in the land at Peashill Farm, Ratcliffe Road, Sileby (hereafter referred to as ‘the Property’).
The Property comprises arable land, extending to approximately 12.57 ha (31.06 acres) excluding the Peashill Farm Buildings and the SUDS pond will be offered on a long lease basis. The Property benefits from an outline planning permission for up to 170 residential dwellings (including 30% affordable housing), together with associated open space, landscaping, extension to cemetery, new allotments, access, surface water attenuation and associated works including demolition of 94 Ratcliffe Road and conversion of existing farm buildings.
The method of disposal is by informal tender and the deadline for bids to be submitted is 12 noon on Wednesday 27th June 2018. Interviews may be held thereafter.
Preference will be given to clean unconditional bids and to parties who can clearly demonstrate they have undertaken full analysis of the site and understood all of the obligations to be placed upon them. . The full Information Pack can be found at www.savills.com/sileby. An index of the documentation included is provided at Appendix 1.
2. LOCATION
The Property is located on the south-eastern side of the village of Sileby within the county of Leicestershire, lying approximately 10.78 km (6.7 miles) north of Leicester and 8.85 km (5.5 miles) south east of Loughborough. Ratcliffe Road provides direct access to the A46 to the east which also links to the M1 and the wider motorway network.
Sileby is a village of approximately 7,835 residents. There are a variety of shops and amenities available within the village centre including two doctors surgeries, two pharmacies, a dentist, a gym, various shops , cafes and takeaway food establishments.
Rail services are available from Sileby Station which is located to the north west of the Property. Train journeys are available on an hourly basis southbound to Leicester (approximately 16 mins in duration), northbound to Nottingham (approximately 36 mins in duration) and Lincoln (approximately 1 hr 43 mins in duration).
A location plan is found below:
Offers due by 12 noon on Wednesday 27th June 2018 1
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
3. DESCRIPTION
The Property extends to approximately 12.57 hectares (31.06 acres) in total (including the balancing area being retained by the Landowner but excluding the Peashill Farm Buildings. The Property currently comprises four fields with an area that was formerly a quarry and is now a local wildlife site and a small enclosure of meadow pasture, to the north west of the site. The Property is bound by agricultural land to the south, both agricultural land and residential dwellings to the west and east and residential dwellings to the north.
Offers due by 12 noon on Wednesday 27th June 2018 2
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
Sales Plan
The area comprising the Peashill Farm Buildings (highlighted in pink above) are excluded from the sale.
4. ACCESS
Vehicular access will be provided by a new roundabout junction on Ratcliffe Road, which is an adopted highway, located on the south easterly boundary of the site.
A secondary access will be provided to the north through the demolition of the existing property at 94 Ratcliffe Road. This access is proposed for the use of emergency vehicles, pedestrians and cyclists only.
5. PLANNING
The Property falls in the jurisdiction of Charnwood Borough Council (‘CBC’), and benefits from the following planning permission.
Offers due by 12 noon on Wednesday 27th June 2018 3
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
Ref. Decision Date Description Decision
Outline application for up to 170 dwellings with associated open space, landscaping, extension to cemetery, new P/17/15 7th August allotments, access, surface water attenuation and Granted 78/2 2017 associated works including demolition of 94 Ratcliffe Road and conversion of existing farms buildings. (Access only to be considered at outline stage).
A copy of the planning application documents can be found in the online Data Room at www.savills.com/sileby or sourced from Charnwood Borough Council website under the above planning reference.
Section 106
The Section 106 can be found in the data room. We understand that the main contributions are as follows;
Council Monitoring Costs Contribution - £250 County Council Monitoring Costs Contribution - £300 Bus Pass Contribution - £720 per dwelling (£122,400). Civic Amenity Contribution - £8,784 Education Contribution - £493,639.61 Healthcare Contribution - £104,381.76 Library Contribution - £5,130 Parking Contribution - £80,410 Travel Pack Contribution - £52.85 per dwelling (£8,984.50). Travel Pack Monitoring Contribution - £6,000
Total contribution of up to £834,729.87 (£4,910.18 per dwelling).
Please note, we understand the amount of dwellings that participate in the Bus Pass scheme on a development of this nature would usually be below 25% and therefore, the above total is the maximum contribution that would be expected.
An outdoor sports facility must also be provided for on-site. An indicative plan has been produced with the position of this play and sport provision and discussions with the Council are currently underway to establish that this is acceptable. This plan can be found in the planning section of the data room.
We ask that all bidders clarify their allowance for Section 106 contributions.
Offers due by 12 noon on Wednesday 27th June 2018 4
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
6. TECHNICAL
A comprehensive technical Information Pack has been put together and made available to all parties. We advise that any purchasers make themselves fully aware of the wider reports and make themselves comfortable with the content therein.
Arboricultural Assessment
An Arboricultural Assessment was conducted by The Environmental Dimension Partnership Ltd in June 2017. The report concludes;
“No trees within the application site are afforded the protection of a Tree Preservation Order (TPO). No part of the Application Site lies within a designated conservation area.
Adverse development effects on the retained trees are not expected and will be further avoided by: a) detailed design progressing in light of ongoing arboricultural advice; and b) tree protection measures are correctly implemented during the demolition and construction phases.”
Archaeological and Heritage Assessment
The Environmental Dimension Partnership Ltd prepared an Archaeological and Heritage Assessment in July 2017. The report concludes;
“This assessment provides sufficient information to allow for the determination of any of planning application on the site in accordance with local and national planning policy requirements.”
Ecological Appraisal
An Ecological appraisal was prepared by The Environmental Dimension Partnership Ltd in July 2017. The report concludes:
“Surveys have confirmed the presence or likely presence of populations of breeding birds, foraging/commuting bats (with confirmed roosting in three of the on-site buildings) and badger foraging within the Application Site, whereas great crested newt has been confirmed as absent.
Offers due by 12 noon on Wednesday 27th June 2018 5
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
[…] EDP finds that by virtue of the limited constraint posed by the site’s habitats and protected species interest, coupled with the scale and scope of the proposed mitigation measures and the flexibility in design response offered by a site this size, the scheme is capable of compliance with relevant planning policy for the conservation of the natural environment at all levels.”
Flood Risk Assessment
Peter Brett Associates LLP conducted a Flood Risk Assessment in May 2017. The report concludes;
“The site is considered to be at low risk from groundwater and reservoir flooding.[...] The Drainage Strategy demonstrates that surface water can be accommodated on site up to the 1 in 100 annual probability event, with allowance for climate change. The existing onsite drainage regime will be maintained. Surface water runoff from the site will be discharged into the ordinary watercourse to the south of the site via strategically located attenuation ponds, at equivalent greenfield rates. A portion of the site towards the northern boundary will be drained to existing sewers in Ratcliffe Road via a single attenuation basin.
The FRA concludes that the development proposals are considered appropriate, subject to the above measures being implemented on site.”
Landscape and Visual Impact Assessment
A Landscape and Visual Impact Assessment was prepared by The Environmental Dimension Partnership Ltd in July 2017. The report provides the following conclusions;
“On the basis of this assessment, therefore, the development of the nature and scale proposed forms a sensitive response to the constraints and opportunities, and is considered to represent a limited impact on the site and surrounding area. As a result, the proposal forms an acceptable proposal in landscape and visual terms, and in accordance with the environmental dimension of the national and local planning policy.
Therefore, the proposals are commended to the Council as appropriately conceived, respectful of the local landscape context and effectively mitigated with regard to views and visual amenity, and without causing unacceptable levels of cumulative effects.”
Phase 1 Ground Condition Assessment
Peter Brett Associates LLP conducted a Phase 1 Ground Condition Assessment [Land Contamination] in July 2017. This concludes as follows;
Offers due by 12 noon on Wednesday 27th June 2018 6
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
“ The preliminary risk assessment has identified that the risk to on-site and off-site receptors from potential on-site contamination over the site can generally be considered as Very Low. The study has identified a number of local potential sources of contamination (both on-site and adjacent the site) which could result in an increased Moderate/Low risk to human receptors, specifically construction workers and future residents. The study has also identified several gaps and uncertainties.
Notwithstanding the identified gaps and uncertainties, given the geological and environmental setting of the Site and the risk levels identified in the preliminary Tier 1 risk assessment, it is anticipated that the requirement to carry out a Phase 2 intrusive investigation can be satisfactorily dealt with through conditions in any granted planning consent.”
Phase II Ground Investigation Report
MEC, Consulting Development Engineers prepared a Ground Investigation Report in April 2018 for the proposed residential development at Peashill Farm and concluded with the following;
“The risk assessment has identified a generally low to moderate risk to human health based on localised elevated contaminants in soils and localised elevated concentrations of carbon dioxide.
As part of the preparatory works to enable the proposed development, a strip of topsoil and Made Ground materials will likely be required. As elevated concentrations of contaminants have been recorded, delineation of the impacted soils is recommended in order to assess how much material will require mitigation (placement beneath a capping layer of hard standing or clean cover) or removal from site. Anecdotal information indicates an area of deep fill located beneath the barn on site, which is recommended to be investigation post demolition.
This report should be updated following completion of the gas monitoring programme and submitted to the Local Authority to support submission of a planning application.
Proposed measures to mitigate the risks to receptors from contaminated soils following delineation works and elevated concentrations of ground gases should be specified in a formal Remediation Strategy.
If a piled foundation solution is required, additional deep ground investigation and assessment are recommended.”
Offers due by 12 noon on Wednesday 27th June 2018 7
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
Transport Assessment
A Transport Assessment was prepared by Peter Brett Associates LLP in July 2017. This report concludes;
“This Transport Assessment demonstrates that the proposed development at Peashill Farm will be accessible through the local pedestrian footway network, cycle network and public transport network and will have good access to jobs and services. A Framework Travel Plan has been prepared for the site to promote sustainable travel and reduce avoidable car travel.
Further to this, the cumulative residual impacts of the development on the transport network are not severe. Hence, in the context of NPPF there are no transport reasons why this application should not be approved.”
Utility Infrastructure Report
Peter Brett Associates LLP prepared a Utility Infrastructure Report in January 2017 for the proposed development and concludes as follows;
“A number of likely diversions and reinforcements requirements have been identified to assist the development and allow provision of new utility supplies to the site. It is not anticipated that any of these requirements are a barrier to the development.”
The report also identified the below;
Service Provider Notes Estimate £ Potable Water Severn Trent There is one on-site water service £264,950 Water being a 0.75” domestic customer service pipe in the east of the development site supplying Peashill Farm, which may need to be diverted or protected. It has been advised there is sufficient capacity in their network to supply the development from Ratcliffe Road. Four/Surface Severn Trent There are no foul and surface water Water Drainage Water drainage crossing the site. It has been advised that the entire site can be pumped to the manhole in Ratcliffe Road (max of 5 l/s).
Offers due by 12 noon on Wednesday 27th June 2018 8
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
Electricity Distribution Existing Low Voltage (LV) overhead £222,769.67 line in the south east of the site which will need to be diverted or incorporated into the Masterplan. Gas National Grid There are no gas mains within the Gas proposed development site. Advised that there is sufficient capacity to supply the development and have provided a proposed Point of Connection adjacent to the north east of the site boundary. Telecommunication BT Openreach There is a BT overhead line Any cost over the £3,400 (per supplying Peashill Farm in the north new residential dwelling) home east of the development site allowance would be chargeable boundary which may be required to to the developer. be diverted or protected.
Please note, this report is currently being updated following the approval for planning permission. This will be provided on the online data room prior to the bid deadline.
7. TENURE / VACANT POSSESSION
The land will be sold freehold with vacant possession. A copy of the land registry documentation can be found in the Information Pack.
(i) The Landowner will retain a 2 metre ransom strip on the south westerly boundary. Points between A & B to be agreed. (ii) Rights will be required to connect (both access and services) to the main arterial road between the Peashill Farm Buildings and the access to Ratcliffe Road to facilitate future development to the south. (iii) The Peashill Farm Buildings are excluded from the sale. However, the Landowner will allow the Purchaser to go on the site and (if required) demolish the buildings. Rights of access and services will be retained by the Landowner to the main arterial road (iv) It is the preference of the Landowner to retain the freehold of the land to the south of the access road where the SuDs pond are to be located. A long lease will be granted to the Purchaser with a “lift and shift” provision.
Barwood have the benefit of an Option Agreement over 94 Ratcliffe Road. This will be exercised at completion.
Offers due by 12 noon on Wednesday 27th June 2018 9
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
8. OVERAGE
An overage provision is required to be included as part of all offers.
9. RIGHTS OF WAY
The Property will be sold subject to and with the benefit of all rights, covenants and agreements and declarations affecting the Property.
10. VIEWINGS / MEETING WITH SAVILLS
Savills will be arranging a viewing day in due course. Details to follow.
11. BIDS
Savills are instructed to place the Property on the market with a view to selling the entire Property at the best consideration on preferably an unconditional basis plus an overage.
Offers are to be received by 12 noon on Wednesday 27th June 2018 and sent in a sealed envelope to Savills, Unex House, 132-134 Hills Road, Cambridge, CB2 8PA. The envelope should be marked ‘‘Land at Peashill Farm, Ratcliffe Road, Sileby - TPF”.
E-mail offers will be acceptable, addressed to [email protected]. Please ensure [email protected] is cc’d into any bid submission.
The vendor will not be bound to accept the highest or indeed any offer and may withdraw the property from the market at any time. . Bid Submission
The following is to be submitted as part of any bid: Confirmation that the purchase will be unconditional; Confirmation of the planning overage; Confirmation of the proposed scheme to include mix and house types; Outline of board approval process; Proof of funding; Details of solicitors to be instructed; Details of the anticipated purchase timetable; Confirmation that a 10% non-refundable deposit will be paid on exchange of contracts;
Offers due by 12 noon on Wednesday 27th June 2018 10
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
Details of track record and any nearby land interests; Purchaser to provide a legal undertaking to cover reasonable abortive professional costs.
12. TIMING
The method of disposal is by informal tender and the deadline for bids is 12 noon Wednesday 27th June 2018. Interviews will be held shortly thereafter.
As part of the Heads of Terms process, we will set out a detailed timescale for exchange and completion. This will include a series of legal meetings to ensure the timetable is achieved.
13. VAT
Please note that VAT will be charged on the sale of the Property.
14. IMPORTANT NOTICE
Savills and the vendors give notice that (i) these particulars are produced in good faith and are set out as a general guide only and do not constitute any part of an offer or contract. They are believed to be correct but any intended purchaser should not rely on them as statements or representations of fact but must satisfy themselves as to the correctness of each of them; and (ii) no person in the employment of the agents, or the vendors has authority to make or give any representation or warranty whatever in relation to this property, (iii) intending purchaser seeking to rely on any survey, report assessment or statement produced for the vendors by any third party must make their own arrangements with the relevant third party.
Please be aware that all plans are subject to the purchaser’s surveys and due diligence.
Offers due by 12 noon on Wednesday 27th June 2018 11
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
15. FURTHER INFORMATION
The full Information Pack relating to the entire Property can be found within the online Data Room, accessed at www.savills.com/sileby and an index is provided at Appendix 1.
Please ensure that in the first instance all enquiries are made to one of the individuals dealing with the sale:
Tom Fraser Savills (UK) Ltd [email protected] Unex House 01223 347038 132 - 134 Hills Road Cambridge Alice Thompson CB2 8PA [email protected] 01223 347044
Jamie Gibbins Barwood Development Securities Limited [email protected] Grovelands Business Park West Haddon Road East Haddon Northamptonshire NN6 8FB
Offers due by 12 noon on Wednesday 27th June 2018 12
Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
APPENDIX 1 – INFORMATION PACK INDEX
PLANNING
Affordable Housing Commentary – 16th August 2017 Affordable Housing Post Planning Application Advice – August 2017 Application Form – August 2017 Application Ltr to CBC – 25th July 2017 Barwood Land Planning Statement – July 2017 Decision Notice Design and Access Statement High Resolution – July 2017 Design and Access Statement – July 2017 Draft S106 Heads of Terms – July 2017 EIA Screening Req Ltr to CBC – 25th July 2017 Illustrative Masterplan – 9th June 2017 Illustrative Masterplan – October 2017 Illustrative Masterplan – Sales Plan – May 2018 Planning Committee Report Play and Sport Provision – 24th April 2018 Secondary Access at No.94 Plan and Long Section – July 2017 Section 106 Agreement – 29th January 2017 Section 106 Cost Summary Site Access Plan – August 2017 Site Context Plan – 25th July 2017 Site Location Plan – 12th July 2017 Statement of Community Involvement – July 2017
TECHNICAL
Arboricultural Assessment – June 2017 Archaeological and Heritage Assessment – June 2017 Ecological Appraisal – July 2017 Flood Risk Assessment – May 2017 Foul Water Drainage Strategy Sketch Plan Foul Water Drainage Strategy Technical Note – 18th July 2017 Framework Travel Plan – July 2017 Highway Peter Brett Technical Note – November Landscape and Visual Impact Assessment – July 2017 Peter Brett Response to LLFA comments Technical Note – September 2017 Phase 1 Ground Condition Assessment [Land Contamination] – July 2017 Phase II Ground Investigation – April 2018 Post Submission Technical Note – October 2017 Surface Water Drainage Strategy Revision A – 14th June 2017
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Residential Development Opportunity Land at Peashill Farm, Ratcliffe Road, Sileby
Surface Water Drainage Strategy Revision B – 14th June 2017 Topographical Survey – October 2016 Transport Assessment – July 2017 Transport LCC comments – November 2017 Transport Mitigation Package – 20th November 2017 Utility Infrastructure Report – January 2017
LEGAL
Titles and Registers
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