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Land for sale

£1,300,000

High Street, Hungerford RG17

Interested in this property? Call 01488 647146 * or

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Property description

Situation
The site lies to the rear of The Three Swans Hotel in Hungerford.

Description
Planning consent has been granted for a four storey residential development on the car park and rear grassed area behind the hotel.

There will be a new access across a shared drive directly to Park Street.

The scheme is for a terrace of three houses on the south east corner of the site and two blocks of five flats on the north side of the site.

The site has benefit of planning consents 10/02565/fulmaj (car park access) and 11/01910/fulmaj (Park Street access).

There is one parking space per unit plus 5 additional spaces (a total of 18).

There is no social housing content.

Site Area
The site area totals approx. 0.35 acres (0.03 hectares).

Access
The purchase price will include all legal and access payments in respect of the Park Street access. The hotel will retain the right to use both accesses for deliveries and parking.

Construction Works
There will be covenants regarding noise and dust and arrangements for parking, deliveries, refuse collection and pedestrian access to the hotel during the building works.

Future Maintenance
There will be arrangements for maintenance contributions by both the hotel and the residential scheme management company in respect of the parking and roadways.

Events
There will be a legal requirement for the purchasers (and subsequent purchasers) to acknowledge that the hotel will continue with its present business, including licensing hours and events including occasional live music and outside eating and drinking.

Section 106 Agreement
For the Park Street access there is a payment of £61,533 payable indexed from 28th December 2011.

Gross Development Value
The gross development value of the completed units is aniticpated to be in the region of £4m.

Proposal
Offers are sought in the region of £1,300,000 (one million three hundred thousand pounds) for this land with planning, exclusive of the section 106 payment.

Legal Costs
Each party is to bear their own cost.

For further information and viewing
Contact Marc Allen on or email
Or
Shane Prater on or email

Further details, drawings etc are available upon request.

Joint Sole Agency with Quintons, Newbury.


Property info

For more information about this property, please contact
Marc Allen Estate Agents, RG17 on 01488 647146 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Marc Allen Estate Agents, and do not constitute property particulars. Please contact Marc Allen Estate Agents for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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