FOR SALE by PRIVATE TREATY 75 Dwelling Residential Development Site

FOR SALE BY PRIVATE TREATY 75 dwelling residential development site

with planning permission at

MOUNT PLEASANT PARK PHASE 2, WESTCOTT WAY, PERSHORE, WORCS., WR10 1PG

Wychavon District Council outline planning application reference number W/16/03028/OU https://plan.wychavon.gov.uk/plandisp.aspx?recno=54090

 4.315 gross hectares (10.662 gross acres).  2.160 net hectares (5.337 net acres).  45 Private and 30 (40%) Affordable dwellings.  20% of the Affordable dwellings to be Intermediate Shared Ownership with a Discounted Price of 70% of the Open Market Value

For Sale by Private Treaty

MOUNT PLEASANT PARK PHASE 2, WESTCOTT WAY, PERSHORE, WORCS., WR10 1PG.

INTRODUCTION WebbPaton are instructed by the Landowners to offer for sale a site with planning permission for 75 dwellings at Pershore, Worcestershire. This site has been successfully promoted through the planning process by Welbeck Land. This is an opportunity to acquire a site on the outskirts of the attractive market town of Pershore.

SUMMARY Planning Application number W/16/03028/OU for 75 dwellings:

 Planning permission was granted on 6th December 2018 for up to 45 Private and 30 Affordable dwellings (40%).  Proposed mix of 1, 2, 3 and 4 bedroomed dwellings at 34.72 dph.  Approximately 4.315 gross hectares (10.662 gross acres).  Residential Development Area of 2.160 net hectares (5.337 net acres).

LOCATION Pershore is a market town in Worcestershire on the banks of the River Avon. The town is on the A44 some 7 miles from the edge of Worcester, 6 miles from Evesham. Pershore College, a well known horticultural college and now a campus of Warwickshire College, is located there. It is in Wychavon District Council area which was recently ranked third in the

Halifax Rural Quality of Life survey for 2018, which is based on employment, education, as well as social and environmental factors.

The nearest motorway junctions are junction 7 of the M5 or junction 1 of the M50. The site lies very close to Pershore Railway Station and Pershore High School a co-educational Academy School with a Sixth Form. Pershore railway station is on the Cotswold Line enabling direct travel to London Paddington via Evesham, Moreton-in-Marsh, Oxford, Didcot, Reading and in the other direction, to Worcester. Currently being built is Worcestershire Parkway railway station 5 miles away with fast regular services to Bristol and Birmingham.

DIRECTIONS To the site (WR10 1PG) from the Junction 7 of the M5 at Worcester (WR5 2RW):

From Junction 7 of M5 take the B4084 towards Pershore. Continue along the B4084 for 6 miles then take the first junction off the roundabout into Station Road. Then turn left into Westcott Way. You need to drive through the site being currently developed and the land for sale will be in front of you.

PLANNING Mount Pleasant Park (Phase 2) was granted planning permission on 6th December 2019 by Wychavon District Council for 75 new homes, being 45 open market and 30 affordable houses. These are to be 1 to 4 bedroom dwellings, comprising of a range of housing types from linked cottages to detached properties. The development is to be no higher than 2.5 storeys in height. The Masterplan can be seen on the front of these sale particulars.

David Barnes of Star Planning led the planning application for this development. He can be contacted for more details by telephone on 0121 444 7554 or at the following email address: [email protected].

The planning application number is W/16/03208/OU. Details of the planning application can be found on Wychavon District Council’s planning application website at https://plan.wychavon.gov.uk/plandisp.aspx?recno=54090. Further information can found at the dedicated website for this site at www.pershore75.co.uk including the planning conditions.

SECTION 106 PLANNING OBLIGATIONS The draft Section 106 is available at www.pershore75.co.uk . It is hoped that by the date Informal tenders are submitted the signed S106 and the Planning Conditions will have been finalised.

The total Section 106 contributions and phasing of the payments (NB before Retail Price Indexation) are:

S106 CONTRIBUTIONS Contribution Contribution per dwelling When payable Cycling Contribution £5,000 £50 per dwelling before the occupation of the 25th Open Market dwelling First Highway Contribution £146,668.90 £1,466.98 per dwelling Before the first dwelling is occupied Second Highways Contribution £167,622.08 £1,676,22 per dwelling before the occupation of the 25th Open Market dwelling Off Site Formal Sports Contribution a) 1 bed £1,548 per 1 bed dwelling before the occupation of b) 2 bed £2,322 per 2 bed dwelling the 25th Open Market c) 3 bed £3,096 per 3 bed dwelling dwelling d) 4 bed £3,870 per 4 bed dwelling Wychavon Council Monitoring Fee £1,400.00 £14 per dwelling Paid

TOTAL S106 COSTS PER EACH DWELLING a) 1 bed dwellings contribution £4,755.20 for every 1 bed b) 2 bed dwellings contribution £5,529.20 for every 2 bed c) 3 bed dwellings contribution £6,303.20 for every 3 bed d) 4 bed dwellings contribution £7,077.20 for every 4 bed

PLEASE NOTE There is no education S106 contribution on this site.

AFFORDABLE HOUSING OBLIGATIONS Affordable Housing provision is 30 dwellings being 40% of the dwellings to be split between 80% Social Rented and 20% Intermediate Shared Ownership. The Discounted Price for the Intermediate Shared Ownership is to be 70% of the Open Market Value as assessed by two RICS Valuers.

Prior to the occupation of 50% of the open market dwellings, at least 50% of the affordable housing has to be constructed and completed together with the necessary services and infrastructure and transferred to a Registered Provider or in the case of the Intermediate Shared Ownership to the purchaser of the Intermediate Shared Ownership Units.

Prior to the occupation of 80% of the open market dwellings, all of the affordable housing has to be built and ready for occupation prior to the occupation and transferred to a Registered Provider or in the case of the Intermediate Shared Ownership to the purchaser of the Intermediate Shared Ownership Units.

COMMUNITY INFRASTRUCTURE LEVY There is no Community infrastructure Levy to be paid on this site.

ACCESS The site is accessed through the Wyre Meadows development. The Vendor was part of the consortium of landowners which sold the Wyre Meadows development and an access road / the provision of services to the site currently for sale is provided for within this sale agreement. The access road can be clearly seen in situ. Full details of the rights that were reserved to the Retained Land can be found within the Legal Section of the dedicated website.

SURFACE WATER DRAINAGE Details can be found within the Utilities section of the dedicated website.

ELECTRICITY The existing electricity network adjacent to the Site is owned by Eon Central Networks and the supplier is Western Power Distribution apparatus. Details of the cost of connection will be available in the Utilities section of the dedicated website.

GAS Details of the cost of connection will be available in the Utilities section of the dedicated website.

WATER The existing water supply infrastructure in this area is maintained by Severn Trent Water (STW). Details of the cost of connection will be available in the Utilities section of the dedicated website.

TELECOMS Details of the cost of connection will be available in the Utilities section of the dedicated website.

SEWERS Details of the cost of connection will be available in the Utilities section of the dedicated website.

LOCAL NEW HOUSE SALE VALUES Local land sales evidence shows average values of around £240 per square foot for newly build dwellings in Pershore. The buyer is to do their own investigations of both open market and affordable housing rather than rely on this figure.

TENURE Freehold with vacant possession on completion. The Land Registry Title number is WR129910.

VAT The Landowners have opted the land for VAT. The Buyer will be expected to pay VAT at the appropriate rate in addition to the purchase price.

OVERAGE The land is to be sold subject to an overage clause. This overage clause is to be triggered if there is any improvement to the current planning permission or a subsequent planning permission which results in the value of the land increasing above the value of the purchase price. Such an overage will be payable to the Vendor by the Purchaser on the lowering or recovery of the Section 106 contributions or any change of use to a use with a higher value. The overage in these cases will be 50% of the increase in value over the purchase price less the cost of obtaining the planning consent.

If the number of dwellings built on the site exceeds 75 dwellings or there is a change in percentage of the affordable housing below 40% or a change in the tenure mix of the affordable housing or an increase in square footage (based on a “to be agreed “total net internal floor space that the parties agree is reasonable for the this site with its current planning for a 75 dwellings scheme), then an overage of 50% of the increase in value over the purchase price less the cost of obtaining planning permission and any build cost inflation will be applied.

These overages are to be in place for 25 years. The overage will be released on each plot individually sold on the handover of the keys on each completed dwelling as long as no more than 0.2 acres is included with the sale of the dwelling.

Please note the Vendors will consider alternative overage proposals. Bidders are advised if they wish to move away from

the overage proposed above that they should submit two offers, one with the overage described above and one with their proposal.

FUTURE ACCESS TO THE VENDOR’S RETAINED LAND The Vendor owns additional land to north of the site. The Purchaser is to leave a 15 metre wide corridor from the road marked A on the attached plan suitable for accessing the Retained Land marked B for future development, with rights granted for the Vendor and his successors in title to use, lay, maintain and upgrade to enable road access from the nearest adoptable highway to the boundary of the Retained Land. Any access road from point A, south of the site, to point B by Retained Land, cannot at any point be built any less than 12 metres in width (to include 1.5 metre pavements either side of the carriageway. The Vendor is also to be granted rights to connect his retained land to any future footpath, bridlepath and cycle path on the site being sold without ransom.

There is also to be right for the Vendor or his successors in title to lay, dig, maintain and use services for all utilities along “a to be agreed” corridor from the nearest adoptable highway to the Retained Land.

In order to facilitate the service and the road access to the Retained Land the Vendor will have an Option to purchase back the land required for the agreed access and service corridors for £1 at any time in 80 years so to enable the access and service routes from the nearest adopted highway to the land.

RANSOM STRIP The Vendor is retaining the ownership of a 1 metre strip around the entire boundary of the site excluding the necessary access route to enter the site from the south.

TERMS The Land edged in red on the Sale Plan in the online dataroom is offered for sale by Informal Tender. Bidders should note that the Vendors are offering this land for freehold sale subject to an overage. For further details please see the Overage clause of these particulars. Bids can either be offered with payment in full on completion or phased over two payments, the second payment being within 12 months of the first, and with the Vendor protected by a Mortgage. Written or email Tenders are to be sent to WebbPaton’s office at the address below by Bids to be submitted to WebbPaton. Offers should be submitted by email or in a sealed envelope marked “For the attention of George Paton – Pershore”.

VIEWINGS The Land may be viewed at any time in daylight hours with a copy of these particulars in hand.

LEGAL COSTS The successful Purchaser’s Solicitor is to provide a legal undertaking of £30,000 plus VAT to the Landowner’s Solicitors in respect of abortive legal fees if the Purchaser pulls out or the Vendor pulls out, or if the Purchaser alters the agreed Heads of Terms. All other legal costs will be the responsibility of each party.

FURTHER INFORMATION Further details can be found in the site specific dataroom at www.pershore75.co.uk

The above is all written on a Subject to Contract basis.

Particulars prepared 2nd April 2019

Notice: These particulars and the web based Information Pack are intended as a general guide only and do not constitute any part of an offer or contract. All descriptions, dimensions, reference to conditions and necessary permissions for use and occupation, and other details are given without responsibility. Intending purchasers or tenants should satisfy themselves as to the accuracy of all statements and representations before entering into any agreement. No employee or Partner or Director of WebbPaton or Welbeck Strategic Land LLP has authority to make or give any representations or warranty in relation to the property.