Lillington Road, Leamington Spa
Offers Over £3,500,000 Sold (STC)
Land - Building Plot
- Vacant former sheltered accommodation with lawful development certificate for 55 unrestricted dwellings
- Planning consent for extending into the roof space and creating additional parking areas
- Potential for extra units and other configurations without a planning application
- Total site area approximately 1.26 acres
- 5% VAT on build costs due to vacancy, on qualifying works
A RESIDENTIAL DEVELOPMENT OPPORTUNITY
LILLINGTON ROAD
is a leafy residential street with Leamington Spa town centre approximately one mile away.
DESCRIPTION
Southfields is an imposing building of hexagonal design and with accommodation over two floors consisting of 54 flats and one office, used as sheltered accommodation, and with no planning restriction on occupation. The property was constructed in the early 1980s and the grounds extend to approximately 1.26 acres with car parking.
PLANNING
A lawful development certificate, Reference W/23/1830 confirms the principle that 55 units may be used as dwellings with unrestricted occupation. W/05/0767 confirms that the one office must now revert to a dwelling making a total of 55 existing units. Planning Permission W/24/0225 mainly for roof lights, french windows and additional car parking has been granted. This allows expansion of units into the roof space. Internal reconfiguration of the existing building has been confirmed as not being development by the officer report to committee that accompanies W21/1084. Potential for extra units.
Proposed floor plans are shown.
OWNER/SELLER
The SPV that currently holds ownership of the property can be acquired to offer a stamp duty saving.
GENERAL INFORMATION
TENURE: The property is understood to be freehold. This should be checked by your solicitor before exchange of contracts. The property will be sold with vacant possession.
SERVICES: We have been advised by the vendor that mains electricity, water and drainage are connected to the property. However this should be checked by your solicitor before exchange of contracts.
VAT: VAT will not be payable on this transaction. It is understood that 5% VAT is payable on build costs due to vacancy, on qualifying works, but this should be checked before exchange of contracts.
RIGHTS OF WAY: The property is sold subject to and with the benefit of any rights of way, easements, wayleaves, covenants or restrictions etc. as may exist over same whether mentioned herein or not.
OFFERS: Offers over £3,500,000 for the freehold or SPV are invited.
VIEWING: Strictly by Prior Appointment with the selling agent.
Peter Turner MSc MNAEA
Associate Partner
Mobile: 07384 811812
Email: pturner@peterclarke.co.uk
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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