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Project Riverside, Merthyr Vale, CF48 4SW

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Project Riverside, Merthyr Vale, CF48 4SW PROJECT RIVERSIDE, MERTHYR VALE, CF48 4SW RESIDENTIAL DEVELOPMENT OPPORTUNITY PROJECT RIVERSIDE, MERTHYR VALE RESIDENTIAL DEVELOPMENT OPPORTUNITY Knight Frank are delighted to offer this high profile regeneration opportunity for sale. Project Riverside represents a significant opportunity for a major residential project. Supported by Merthyr County Borough Council and the Welsh Government. The Property The site comprises an irregular shaped parcel of land measuring 15ha (37 acres), narrowing at both the south and north extents. It currently comprises vacant land and the surface is grass/roughly vegetated. Trees and hedgerows are located along the boundaries of the site. The site is bounded to the north by the infrastructure works, River Taff and beyond that Ynysowen Community Primary School. To the east lie trees and naturalised shrub planting, followed by the rail line extending south to north. The infrastructure works bound at the south of the site, followed by Merthyr Vale Train Station and residential housing areas. To the west of the site is Nixonville road, lined by residential and community uses, which runs parallel to the River Taff. The new spine road, Golwg Yr Afon, runs through the site from North to South and splits the land into two distinct sites. In addition to the road infrastructure, the associated flood defences create varying heights between the road level and surrounding site levels. Location The new link road, Golwg Yr Afon, is connected to the north of the site to Aberfan Road and to the south to Bryn Clychau. The new development site is accessed by five new highway connections. Project Riverside is situated in Merthyr Vale, which has excellent connections to Merthyr Tydfil & Aberfan. The site is located to the west of Cardiff Road (A4054) between the communities of Merthyr Vale and Aberfan. The site is situated 20 miles from Cardiff, 5 miles from Merthyr Tydfil. It is well served by both road and rail, with road access from Junction 32 of the M4 motorway to the south and the A470 2.5 miles away. Merthyr Vale train station is located to the south of the site and pedestrians may use Byrn Clychau to enter the site from this direction. There is potential for the Cardiff – Merthyr Tydfil line to be electrified and enhanced as part of the Cardiff Capital City Region initiative. It is anticipated that several bus services will use Golwg Yr Afon and bus stops have been integrated into the design of the highway. 2 Planning PROJECT RIVERSIDE, MERTHYR VALE The site has a favourable planning context and the principle of development is established by planning history as well as up to date planning policy. The relevant planning history of the site is an outline planning permission (application number 04/0641) which was granted by Welsh Government in March 2008 for 150 dwellings, ancillary space, each, residential nursing home, office building and a pub/restaurant. Within Merthyr Tydfil County Borough County adopted Local Development Plan 2006- 2021, Project Riverside is classified as an ‘Other Growth Area’. The following allocations are relevant to the site: • New Housing Sites – over the plan period 250 houses are to be provided throughout ‘Other Growth Areas’. The Merthyr Vale Colliery (Project Riverside) site is listed as policy H39. The policy allocation of Site H39 ‘Project Riverside’ accords with the previous outline planning consent. However, this allocation equates to a gross average density of 16 units per hectare, which is considerably lower than current best practice. It is therefore accepted that a future application would include a higher density in line with current design policy and principles. • Open Spaces Protected for Informal Recreation and Amenity • C2 Flood zone • Core Highway Network Improvements This permission has elapsed but besides residential other uses would be departures but maybe considered in context of the overall scheme. The Opportunity Project Riverside represents an exciting regeneration opportunity to create a high quality phased development, located in a well serviced area. The open space provision and proximity of the River Taff create a pleasant backdrop to the new development. Housing density will follow the natural contours of the site, creating a mix of traditional dwelling types which will help create an attractive development. The opportunity is available as a whole or in smaller lots. 3 Method Of Sale We are seeking offers for the freehold interest via an informal tender process on a ‘subject to planning basis’. Offers will be invited for the whole or in parts. The preferred bidder will be required to enter into a conditional contract subject to obtaining a satisfactory planning permission. Financial offers should be submitted by no later than 12 noon on Friday 18th March 2016 in accordance with the tenderers’ instructions contained within the dataroom. Tenure Freehold VAT VAT will not/will be charged on the sale of the property. Further Information A comprehensive technical information pack has been prepared and is available to seriously interested parties via a secure dedicated website - www.projectriverside.com. Viewings Viewings are strictly by appointment only through the sole agent, Knight Frank: Leah Mullin Philip Egan Knight Frank Knight Frank 02920440138 02920440140 [email protected] [email protected] Important Notice 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Particulars dated December 2015. Photographs dated January 2016. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names..
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