RESIDENTIAL DEVELOPMENT OPPORTUNITY, INDICATIVE CAPACITY FOR 66 NEW DWELLINGS. EXPRESSIONS OF INTEREST INVITED. FOR FURTHER INFORMATION, PLEASE CONTACT DAVID ATKINSON ON 01377 253151.
Description - This edge of village residential development site (as edged red on the plan on the front page) extends to 6.27 acres (2.54 hectares) or thereabouts, and has primary road frontage to Sproatley and comprises an attractive site adjoining open grassland on both sides.
The site is currently arranged in two grass paddocks which have a natural fall to both north and south. The site lies within 300m of the village centre and forms part of a larger residential allocation within this village location.
The site is owned by two owners who have entered into a joint collaboration agreement.
Location - Preston is a "Primary" village with a population in excess of 3,000 and is located approximately 3 miles to the north east of Hull. The village is popular and has a good range of services including Primary and Secondary schools, Sports Centre, Local Store, Post Office, Butchers, 2 Public Houses, 2 Takeaways and a Garden Centre. There are frequent public transport facilities to the City of Hull which has a full range of amenities.
Preston is particularly well located for the new employment opportunities taking place on the north bank of the River Humber at The Greenport Hull Facility at Alexandra Dock.
Access - The site is to be accessed directly from Sproatley Road (B1240), leading out of the village to Sproatley, or alternatively to Bilton or the village centre.
The smaller paddock (2 acres) is currently accessed via Ness Lane.
Planning - All of the property falls within part of PRES-B within the East Riding of Yorkshire Council's (ERYC) Local Plan Adopted Allocations Document. Outline planning permission for residential development was granted on 27th April 2018. Full details are available on the East Riding of Yorkshire Council's planning portal, Ref No. DC/16/03659/OUT.
Outline planning permission for the residential development on the 2 acre paddock - "East of 23 Ness Lane was granted on appeal dated 4th December 2019. Full details of the appeal decision are available from ERYC'S planning portal- Ref: Land east of 23 Ness Lane, Preston HU12 8SG https://acp.planninginspectorate.gov.uk/ViewCase.aspx?caseid=3233683
The approved plans show an indicative capacity of 66 new dwellings which will require the provision of affordable housing for not less than 15% of the housing units.
The property described within these particulars represents 77% of the PRES-B site area of 3.29 hectares in total. The remainder is hatched blue on the front page which also has the benefit of outline planning permission.
Services - Mains water is connected to the site.
Drainage - The site is within the Environment Agency 's "Flood Zone 1" (low risk of flooding) The outline planning consent proposes to dispose of foul sewerage to the mains system and surface water to incorporate a sustainable (SUDS) drainage system via the existing culvert beneath Sproatley Road into a riparian owned watercourse. The discharge would be limited to to greenfield run-off.
Method Of Sale - The property is offered for sale by private treaty. Interested parties should register their interest with the selling Agents to be kept informed as to how the sale will be concluded.
Local Authority - East Riding of Yorkshire Council (ERYC), County Hall, Beverley, HU17 9BA.
Tenure & Possession - The property is for sale freehold with vacant possession available upon completion.
Title And Plans - The property is registered with the Land Registry. The plans provided in these sales particulars and the areas stated are for guidance only and are subject to verification with the title deeds.
Vat - In the event that the sale of the land or any part of it or any right attached to it becomes chargeable for the purposes of VAT such tax will be payable in addition to the purchase price.
Contaminated Land - The Vendors are not aware of any land having been filled with any contaminated matter referred to in the Environmental Protection Act 1990. The Vendors do not give any guarantee in this respect and advise the Purchaser(s) to make their own enquiries and investigations which may be necessary to satisfy themselves that none of this land is so filled. The paddock has been used to graze horses in recent years.
Rights Of Way, Easements & Wayleaves - The property is sold with the benefit of all granted rights of way, water, support, drainage, electricity supplies, lights and other easements or quasi-easements and restrictive covenants and all existing or proposed wayleaves or electricity, drainage, water, gas and any other pipes whether shown on the plan or indicated in these particulars or not and without any obligations to define the same respectively.
Viewing And Further Information - Viewing of the property is strictly by appointment only. For further information, please contact David Atkinson FRICS FAAV on 01377 253151. Email: david@dee-atkinson-harrison.co.uk
Date Of Information - Particulars prepared February 2020.
Disclaimer: Dee Atkinson & Harrison for themselves and for the vendors or lessors of this property, whose Agents they are, give notice that these particulars are produced in good faith, are set out as a general guide only and do not constitute any part of a Contract. No person in the employment of Dee Atkinson & Harrison has any authority to make any representation or warranty whatever in relation to this property.
New Home: Non New Home
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
Tax Band | % | Taxable Sum | Tax |
less than £250k | 0 | ||
£250k to £925k | 5 | ||
£925k to £1.5m | 10 | ||
rest over £1.5m | 12 |
Tax Band | % | Taxable Sum | Tax |
less than £250k | 3 | ||
£250k to £925k | 8 | ||
£925k to £1.5m | 13 | ||
rest over £1.5m | 15 |
Tax Band | % | Taxable Sum | Tax |
less than £425k | 0(5)** | ||
£425k to £625k | 5 | ||
£625k to £925k | 5 | ||
£925k to £1.5m | 10 | ||
rest over £1.5m | 12 |
© 2024 Dee Atkinson & Harrison, All Rights Reserved.