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Land at Lyngford Lane Lyngford Lane, Priorswood, Taunton, Somerset, Ta2 7Lj

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Land at Lyngford Lane Lyngford Lane, Priorswood, Taunton, Somerset, Ta2 7Lj LAND AT LYNGFORD LANE LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ Extensive Development Site with Planning Consent Granted for 45 Assisted Living Dwellings Indicative Purposes Only DEVELOPMENT PLAN N ORCHARD & FARMYARD & TOWNHOUSES COTTAGES LYNGFORD LANE PEDESTRIAN & CYCLE ENTRANCE FLETCHER CLOSE COMMUNAL GARDEN & LODGES FORECOURT (‘PIAZZA’) LYNGFORD HOUSE SITE ENTRANCE FEVERSHAM WAY SELWORTHY ROAD Indicative purposes only LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ CUSHMAN & WAKEFIELD | 1 OPPORTUNITY SUMMARY Prime development site with planning consent for Freehold interest with Vacant Possession 45 predominantly new build assisted living dwellings available immediately comprising c.58,000 sq ft saleable area Extensive site area spanning approximately 4 Acres Highly sustainable development with a wide range of (1.6 hectares), benefiting from a prominent location social, economic and environmental benefits as well as near junction 25 of the M5 provision for much needed care accommodation Good underlying demographics with an older Characteristic Grade II listed elements and more affluent catchment than typical We are instructed to seek offers in excess of£3,000,000 Details of full planning application and consent (Three Million Pounds), subject to contract and exclusive of available upon request VAT. STP offers are also invited LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ CUSHMAN & WAKEFIELD | 2 LOCATION LOCATION Taunton, the county town of Somerset, is a large cultural and historic town located in the southwest of England. The town has over 1,000 years of military and religious history benefiting from historic architecture and untouched views TAUNTON across the Blackdown and Quantock Hills. THE SITE Exeter lies approximately 36 miles to the south west of the town with Bristol (48 miles) and Bath (70 miles) to the north east. The uniquely landscaped Exmoor National Park is located approximately 16 miles to the north west. The town is extremely well connected with the M5 (Junction THE SITE 25) approximately 3 miles away, which provides direct access to Bristol, Birmingham and other major road links such as the M4 to access London, as well as other link roads including the A38 and A358. Taunton railway station, which is 1 mile from the subject site, is served by Great Western Railway and CrossCountry with services to London Paddington (in under 2 hours), Manchester Piccadilly, Birmingham New St, Exeter St Davids, Bristol Temple Meads and Cardiff Central. Exeter International Airport is located approximately 35 miles to the south west and Bristol International Airport, which served over 8.5 million passengers in 2018, is approximately 36 miles to the north east from the property. SITUATION The site is positioned on the northern outskirts of Taunton in the residential area of Priorswood, a quaint and picturesque suburb located on the outskirts of Taunton. The site is accessible by Selworthy Road and a secondary rear access off Lyngford Lane, both of which link on to Eastwick Road and then the A358 and A3259 to the south. The property itself is within walking distance to Priorswood Post Office, Co-op Food, Priorswood Library, Lyngford Park Medical Surgery, Lyngford Park and Wellsprings Leisure Centre. Surrounding properties are predominantly detached residential dwellings. openstreetmap.org LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ CUSHMAN & WAKEFIELD | 3 EXISTING SITE Site Area The site currently consists of a number of buildings, some of which were registered as Grade II listed in 1985 with others Tenure added in the 1990s. Freehold. Listed buildings consist of Lyngford House, the Coach House and Stable as well as the associated cobbled yard. Recent buildings constructed in the 1980s include a purpose built 18 bedroom accommodation block and a detached conference building. Site Listed Assets The site extends to a total • Lyngford House was listed on 17th May 1985 (List Entry Number: 1176061) being constructed c.1830s. The characteristic Red area of approximately 4 acres Sandstone brick building was recently used as a conference centre. (1.6 hectares). • The Stables and Coach house were also listed on 17th May 1985 (List Entry Number: 1060515) being constructed c.1840. These buildings comprise a squared and coursed sandstone exterior being L shaped in plan. For the majority of the 20th century, the site was used as an NHS training facility, until its closure in 2014. A new entrance to the site as well as a feature driveway were created on Selworthy Road with the original entrance from Lyngford Lane being used as a secondary entrance. The site currently benefits from a 75 space car park. LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ CUSHMAN & WAKEFIELD | 4 ORCHARD & COTTAGES TOWNHOUSES Conditional planning consent was granted on 03/07/2019 (planning reference: 38/18/0108) for the re-development of the Lyngford House LYNGFORD LANE PEDESTRIAN site into 45 (C2 use class) assisted living extra care dwellings to & CYCLE ENTRANCE comprise of: ‘FARMYARD’ & PARKING FLETCHER CLOSE • 33 new build houses • 6 new build apartments • Conversion and refurbishment of Lyngford House into 3 apartments and communal facilities • Conversion and refurbishment of associated listed cottages (Coach COMMUNAL House and Stables) into 3 houses, all with associated landscaping, GARDEN & LODGES alteration, refurbishment and demolition works Included in the planning application is the: FORECOURT (‘PIAZZA’) • demolition of the conference centre and apartment block • closure of the Lyngford Lane site entrance LYNGFORD HOUSE • changes for pedestrians and cyclists routes • relocation of the main entrance to Selworthy Road to allow for a new key view and approach to Lyngford House CENTRAL LAWN When producing this scheme a detailed analysis was commissioned by experienced professionals and consultants who have provided guidance EASTERN DRIVE through the design process to ensure a high quality development is MAIN DRIVE (‘SERPENTINE’) achieved. Each dwelling provides a level of independence whilst allowing residents access to care within a safe and secure community, being FEVERSHAM WAY designed in line with Lifetime Homes and HAPPI 3 principles. Further details on the planning consent are available upon request. SITE ENTRANCE SELWORTHY ROAD LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ CUSHMAN & WAKEFIELD | 5 Key Apartments LYNGFORD HOUSE Common Space Kitchen Common Toilets Proposed Ground Floor Treatment Room Proposed First Floor Proposed Second Floor Existing Glass Lantern Visitor Suite Library IT Room over Central Lobby LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ CUSHMAN & WAKEFIELD | 6 THE COACH HOUSE AND STABLES Cottages New Apartments Lyngford House - Extra Care Housing Communal Facilities Ground Floor Plan First Floor Plan Attic Void Proposed extension Unit 22 private entrance Unit 22 private entrance Apartments Unit 21 private entrance Unit 20 private entrance LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ CUSHMAN & WAKEFIELD | 7 MARKET OVERVIEW Demand Affluence • We have considered the demographic and competition data within a 15 minute • The catchment surrounding the property presents an affluent profile with drive time from the site (catchment). 23.4% of the population being categorised as “Affluent Achievers”, above • The catchment demonstrates growing demand for retirement living with an the UK average. approximate requirement for 4,757 units in 2019 rising to 5,856 in 2028. • The combination of substantial low supply combined with strong demand metrics and high levels of affluence in the area suggest excellent underpinnings for a prime quality retirement living development. Potential Requirements 2019 2023 2028 Extra Care Requirement 4,757 5,253 5,856 Acorn Category Profiles Area % Base % 23.4% Affluent Achievers 21.6% Rising Prosperity 6.1% Existing Retirement Provision 10.0% Comfortable Communities 29.7% • The existing retirement provision within the catchment is 1,862 units, made up of 390 Age 26.6% Restricted, 1,210 Sheltered and 262 Extra Care. Financially Stretched 22.6% • This substantial undersupply, supported by the strong local affluence profile, gives the 23.5% site excellent prospects as a location for a high quality, retirement focussed setting. Urban Adversity 18.1% • Further details of the local demographic profile and existing care provision within the 18.3% catchment are available upon request. Average Houses Prices 262 390 AGE RESTRICTED 1,862 in Total SHELTERED £232,370 £235,516 £257,562 £229,430 EXTRA CARE Taunton Deane Somerset South West UK 1,210 (Average sold price as of May 2019), Source: UK HPI/Land Registry LYNGFORD LANE, PRIORSWOOD, TAUNTON, SOMERSET, TA2 7LJ CUSHMAN & WAKEFIELD | 8 We are instructed to seek offers in excess of£3,000,000 (Three Million Pounds), subject to contract and exclusive of VAT. Subject to planning offers are also invited. FURTHER INFORMATION The property may be inspected by prior appointment through the vendors agent Cushman & Wakefield. Sam Gadar MRICS Associate Director – Healthcare Tel +44 (0) 207 152 5936 Mob +44 (0) 7771 500 027 Email [email protected] James Hanson MRICS Partner – Head of Healthcare Transactions Tel +44 (0) 207 152 5120 Mob +44 (0) 7779 225 392 Email [email protected] Disclaimer Cushman & Wakefield hereby give notice that the information provided in this brochure is provided on the following conditions: (1) The particulars are set out as a general outline only, for the guidance of intending
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