Land for sale

Eye Road, Peterborough PE1

Freehold opportunity – land with building & four parking spaces guide price £50,000 - £55,000

Sell New Group are pleased to offer for sale this unusual freehold opportunity, situated within the established Royal Court residential development, just off Eye Road, Peterborough.

The sale comprises an existing single-storey semi-detached building, adjoining the neighbouring barn/building, together with its associated parcel of land and four parking spaces.

Currently presented in a derelict condition and requiring substantial refurbishment, the property represents an interesting opportunity for builders, developers, investors or owner-occupiers looking to acquire a freehold building and land with potential to add value.

Constructed predominantly of brick beneath a pitched tiled roof, the building provides a blank canvas from which an incoming purchaser may wish to investigate its future potential. Possibilities could include refurbishment and reuse, conversion, change of use or redevelopment, subject in all cases to obtaining the necessary planning permission and other consents.

Purchasers should note that the building is semi-detached and directly adjoins the neighbouring barn/building.
Planning history


The property forms part of the wider Royal Court development, created through the redevelopment of the former Royal Arms Public House site.

The wider residential development has planning history under reference 14/01017/ful, relating to the demolition of the former public house and construction of 20 two-bedroom flats, together with associated parking, landscaping and cycle-storage provision.

Of particular interest to developers and purchasers considering the future potential of the property is a subsequent planning application at Royal Court:

Planning reference: 19/01143/ful

The application proposed:

“Demolition of existing ancillary building, construction of single storey 2 bedroom dwelling…”

The application was subsequently withdrawn on 4 October 2019 and therefore does not constitute an existing or extant planning permission.

Nevertheless, the application provides useful planning history for purchasers wishing to investigate the site's future potential, demonstrating that the possibility of replacing an ancillary building at Royal Court with a residential dwelling has previously been explored through the formal planning process.

Prospective purchasers are encouraged to review the full planning history, including application 19/01143/ful, together with its submitted plans and supporting documentation, and obtain independent planning advice before considering any future proposal.
Development / change of use potential


Given the existing building, freehold land and four parking spaces included within the sale, an incoming purchaser may wish to investigate a variety of future options.

These could potentially include refurbishment and reuse of the existing building, conversion, alternative commercial or ancillary uses, change of use or redevelopment, subject to obtaining all necessary planning permissions and other consents.

A purchaser may also wish to investigate whether a revised residential proposal could be considered appropriate, particularly taking into account the previous 2019 planning application and current planning policies.

The previous residential application was withdrawn, and purchasers should therefore not assume that residential development will be permitted.

No representation or warranty is made by the seller or Sell New Group that planning permission will be granted for residential development, change of use, conversion or any other proposal.
The building


The existing single-storey building is predominantly of brick construction beneath a pitched tiled roof and is currently in a derelict condition requiring substantial refurbishment and improvement.

The building is semi-detached, directly adjoining the neighbouring barn/building.

The property is being sold in its existing condition, and prospective purchasers must satisfy themselves as to its structural condition and suitability for their intended use.

Purchasers should also investigate any relevant party wall or shared wall arrangements, boundaries, rights, covenants and maintenance responsibilities affecting the adjoining structure.
Land & four parking spaces


The sale includes the building together with its associated freehold land and four parking spaces, as identified within the relevant title and sales documentation.

The property sits within the established Royal Court development and is accessed through the existing development.

Purchasers and their legal advisers will be responsible for establishing the precise extent of the title and confirming all rights of access, rights of way, parking rights, shared access arrangements, estate charges, maintenance liabilities, restrictive covenants and other matters affecting the property.
Services


The availability, location, capacity and condition of services serving the property have not been independently verified or tested by the selling agent.

Prospective purchasers must undertake their own investigations regarding electricity, mains water, foul and surface-water drainage, telecommunications and any other services required for their proposed use.

Any new connections, alterations or upgrades required for refurbishment, change of use or redevelopment will be the responsibility of the purchaser.
Location


Royal Court is situated just off Eye Road in Peterborough, within an established residential area providing convenient access to the city and surrounding road network.

The property occupies a tucked-away position within the Royal Court development and is surrounded predominantly by established residential accommodation.

A range of everyday amenities, shops, schools and services can be found within the surrounding area, while Peterborough city centre provides a wider selection of shopping, leisure, employment and recreational facilities.

Peterborough Railway Station provides mainline rail connections, including services towards London, while the city's road network provides convenient access to surrounding towns and major routes.

For investors, builders and developers, the combination of an existing freehold building, land, four parking spaces and documented previous planning history creates an unusual opportunity to investigate.
Viewings


Viewings are strictly by prior appointment only and must be undertaken during daylight hours.

Due to the current condition of the building, purchasers should exercise appropriate care when inspecting the property. Please contact Sell New Group to arrange an accompanied inspection.
Important planning & buyer notice


Planning application 19/01143/ful was withdrawn and does not represent an existing or extant planning permission.

Reference to previous planning proposals is provided for information purposes only and should not be interpreted as confirmation that the same or any similar development would now receive planning permission.

No representation or warranty is made by the seller or Sell New Group regarding the suitability of the property for residential development, commercial use, conversion, change of use, refurbishment or redevelopment.

All interested parties must undertake their own investigations and due diligence with Peterborough City Council and obtain independent planning, legal, structural and other professional advice before entering into a purchase.

No measurements have been taken as access to the plot/building was not available at the time of preparing these particulars. Any boundaries, dimensions or areas shown within the marketing material or plans are approximate and for identification purposes only. Buyers and their solicitors should verify the precise title extent, boundaries, measurements, parking spaces, access rights and all other legal matters.
Important notice


All information is provided in good faith but must not be relied upon as statements or representations of fact. Prospective purchasers must satisfy themselves by inspection, survey, legal enquiries and independent professional advice regarding planning, measurements, boundaries, access, services and utilities, flood risk, environmental matters, structural condition, legal title and suitability for their intended use.

Any proposed use, alteration or development will be subject to obtaining all necessary statutory and other consents.

Buyer's administration fee: The successful purchaser will be required to pay a fixed administration fee of £2,500 inclusive of VAT, in addition to the agreed purchase price.
Disclaimer


Sell New Group are acting as agents for the vendors of this property. The purchaser's conveyancer is responsible for ensuring that the purchase documentation and legal enquiries adequately protect the purchaser's position.

We make detailed enquiries of the vendor to ensure that the information provided is as accurate as reasonably possible. Please inform us if you become aware of any information that may be inaccurate.
Reservation requirements


On reservation, Sell New Group will require:

Aml identification checks for all purchasers

Proof of deposit and/or proof of funds

Mortgage Agreement in Principle, where applicable

Selling estate agent's details, where applicable

A £2,000 non-refundable reservation deposit, which will be deducted from the agreed purchase price on completion

The reservation is made strictly on the basis that all parties will work towards a four-week exchange of contracts deadline, commencing from the date the purchaser's solicitor receives the legal contract documentation.

Prospective purchasers should ensure they are satisfied with the above requirements and obtain appropriate legal advice before paying any reservation deposit.