Land for sale

LAND WITH RESOLUTION TO GRANT OUTLINE PLANNING PERMISSION FOR UP TO 64 DWELLINGS

Boxford, Land East of Sand Hill, Suffolk, CO10 5AD

An exciting opportunity to acquire residential development land totalling 5.76 hectares (14.23 acres) with the benefit of outline planning permission for up to 64 units.

ï Site area of 5.76 hectares (14.23 acres)

ï Outline planning permission for up to 64 units with all matters reserved except for access

ï 35% affordable housing

ï For sale by informal tender

ï Offers sought on an unconditional basis by 20th November 2020.

LOCATION

The residential development site is located adjacent to the village of Boxford with access off the public road known as Sand Hill. The site is approximately 6.5 miles from Sudbury and adjacent to the A1071.

Hourly train services from Sudbury connect with the mainline at Marks Tey that provides connections to London Liverpool Street. Boxford is located within the Babergh District Council region. Boxford comprises a medium sized village offering a range of local services and facilities including a post office, village stores and other retail opportunities, public house, primary school, village hall, church, community recreation ground and pavilion. The village is surrounded by farmland.

DESCRIPTION

The development site extends to approximately 5.76 hectares (14.23 acres) and is shown on the Sale Plan.

TOWN AND COUNTRY PLANNING

The site received a Resolution to grant Planning Permission by Babergh District Council decided at committee on 17 June 2020.. A Section 106 Agreement is now being formalised. The Babergh District Council application reference is DC/20/00330. A copy of the draft planning conditions and agreed format for the Section 106 Agreement is provided as part of the information pack. The formal decision notice and signed Section 106 Agreement will be circulated immediately following receipt. The plans and Consultants Reports can be viewed at the dedicated Data Room for which further details are available from the Vendor's Agents.

SECTION 106

The buyer will be responsible for all outgoings including Section 106 costs totalling circa £204,120. There is a CIL cost which is currently based on £115 per sqm and there are footway improvements required. Further details are available through the various documents in the Data Room and the link above. We ask that all bidders clarify their allowances for Section 106 contributions. The buyer will pay the contribution towards the construction of the community building which is being negotiated as part of the S106 agreement. Please allow a sum of £254,000 towards the construction of the building.

SCHEDULE OF HOUSE TYPES

The following Schedule is based on an indicative layout which accompanied the Planning Application.

Social - 22

Market - 42

Total - 64

METHOD OF SALE

The property is for sale by Informal Tender and offers should be submitted, preferably by email (please contact the selling Agent for email address) by 12 noon on Friday 20th November 2020. Emails should be clearly headed 'Boxford Offer'. Unconditional offers should be made in pounds sterling and no reference should be made to other offers. The offers should contain the following: -

1. Details of the Purchaser's Solicitor.

2. A letter of confirmation from a Bank or Financial Advisor confirming that Funds are available to exchange contracts in the required timescale.

3. Confirmation that Main Board approval has been given where necessary.

4. The Vendors reserve the right not to accept the highest offer or any other offer received.

EXCHANGE OF CONTRACTS AND COMPLETION

Exchange of contracts will take place 28 days after receipt by the Purchaser's Solicitor of the draft contract. Completion will be 28 days thereafter.

USEFUL ADDRESSES

Babergh District Council

Endeavour House, 8 Russell Road, Ipswich IP1 2BX

Suffolk Country Council

Endeavour House, 8 Russell Road, Ipswich, IP1 2BX

VIEWINGS

Strictly by appointment with Brown & Co. Please contact Robert Fairey

WAYLEAVES, EASEMENTS & RIGHTS OF WAY

The property is sold subject to and with the benefit of all existing obligations and rights, including rights of way whether public or private, light, support, drainage, water and electricity supplies and all other rights, easements, quasi-easements, whether referred to in these Particulars or not. The site will be sold with the benefit of an Option Agreement for a

surface water drainage easement through third party land.

SERVICES

Prospective purchasers are advised to make their own enquiries with the relevant service providers. More information on the services and drainage strategy is available in the information pack.

TENURE

The site is being sold freehold with vacant possession on completion.

RESTRICTION

The property will be sold with a restriction limiting the number of dwellings to be delivered on site to 64 if a more valuable planning permission is obtained prior to development of the site. Prospective purchasers should indicate what terms they are prepared to offer in this respect in addition to their bid price.

ANTI MONEY LAUNDERING

In accordance with the most recent Anti Money Laundering Legislation, buyers will be required to provide proof of identity and an address to the selling agent once an offer has been submitted and accepted (subject to contract) prior to solicitors being instructed.

VAT

The vendors will opt to tax the land being sold therefore VAT will be charged on the sale price.