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Multiple plot – Land At Meadow LaneGuide Price £550,000
Property DetailsSEALED BIDS Owing to the level of interest shown we have decided to conclude the sale of the above site by inviting best and final offers for the purchase of this land. Offers to be submitted to the agent by 12pm on Monday 28th September 2020. Please contact TW Gaze for more information
Location The site sits within the village of North Lopham located off The Street with site access from Meadow Lane which also serves 5 other properties. The village is well thought of and has a basic range of amenities including a public house and a school. The neighbouring village of Kenninghall just a couple of miles away has wider facilities and the bustling market town of Diss is just 6 miles to the east and has schooling to sixth form, excellent shops, sporting and social facilities, and good transport links with a mainline rail service to London Liverpool Street in just 90 minutes. A little further afield is Bury St Edmunds (15 miles), Norwich (25 miles) and there are links to the A11 which is now dual carriageway all the way to Newmarket where it joins the A14 corridor giving access to Cambridge within an hour or so.
The Site The site is currently open and laid to grass and measures 0.73 Hectares (1.8 acres). The boundaries of the site are shown by the red line indicated on the location plan.
Planning Full planning consent has been passed by Breckland Council on 4th December 2019 under planning reference 3PL/2018/1118/F for the erection of seven dwellings and associated access and landscaping.
It is worth noting that a planning condition is in place which states that the development must begin no later than the expiration of two years from the date of permission.
Schedule of Accommodation All areas shown are the approximate GIA's based on the consented plans.
Plot 1 - 2 bed semi-detached barn style house with two car parking spaces. 1,006 sqft (93.5 sqm)
Plot 2 - 2 bed semi-detached barn style house with two car parking spaces. 978 sqft (90.9 sqm)
Plot 3 - 3 bed semi-detached house with two car parking spaces. 1,400 sqft (130 sqm)
Plot 4 - 3 bed semi-detached house with two car parking spaces. 1,364 sqft (126.75 sqm)
Plot 5 - 4 bed detached house with attached double cartlodge. 2,177 sqft (202.25 sqm)
Plot 6 - 4 bed detached barn-style house with detached double cartlodge. 2,102 sqft (195.3 sqm)
Plot 7 - 3 bed detached barn-style house with integral double cartlodge. 1,631 sqft (151.5 sqm)
Total - 10,658 sqft (2,353.7 sqm)
Section 106 Agreement A Section 106 Agreement has been agreed with Breckland District Council and this requires an index linked contribution of £10,000 towards the provision of affordable housing elsewhere within the District. This is payable prior to the first occupation of any dwelling.
In addition, the Section 106 Agreement includes an Affordable Housing Clawback. This provides for an additional payment based upon the profitability of the development. If the Profit Margin (as defined) for the scheme exceeds 17.5% of the Gross Sale Receipts (also defined), then a sum equivalent to 50% of this amount will be repayable to the Council, but this shall not exceed £25,929.32 - although this figure will be index linked. This clawback payment will not apply if the development has been completed and is fully occupied within 3 years and 6 months of the date the permission was issued.
Community Infrastructure Levy (CIL) Breckland Council has not adopted CIL and therefore there is no CIL to pay.
VAT The land is not opted to tax currently but it is the intention of the vendor that it will and therefore VAT will be charged on the sale price at the standard rate.
Services Purchasers should make their own enquiries in relation to the position and availability of services.
Directions From Diss, head west on the A1066 and at South Lopham take the right fork and proceed into the village of North Lopham. Turn right immediately past the duck pond onto Meadow Lane and into the site.
Viewing Strictly by appointment with TW Gaze.
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