Land for sale in West Street, Portchester, Fareham PO16

Summary
available at £925,000 - > Freehold roofspace development scheme with planning > For 30 apartments - 18 x 1 bed, 11 x 2 bed and 1 x 3 bed > Ideal build to rent scheme in town centre location

description
*** to be sold by public auction on 16th April 2024 at the grand connaught rooms, 61 - 65 great queen street, london, WC2B 5DA (Online bidding available) ***

Tenure
Freehold

Lease Details
The ground floor commercial units have been sold off on 999 year leases from 2020. Please see the legal pack for further information.

Location
The property can be found in Porchester town centre fronting West Street and forms the pedestrianised element of Porchester shopping precinct making it well placed for shops and amenities. The location is ideally placed for access to travel networks and local points of interest, with Porchester train station nearby and the A27 connecting to Fareham and Port Solent, then onto the M27 and A3 main travel network routes.

Description
This freehold property is being sold with planning permission for the part conversion and new build of the first and second floors to create 18 x 1 bedroom 11 x 2 bedroom & 1 x 3 bedroom apartments. This represents an ideal investment opportunity or build to rent scheme in a central location.

Planning details
Planning permission was granted subject to conditions by Fareham Borough Council under application number P/21/0899/fp on 15th February 2022 for the conversion of first floor and addition of 2 further storeys to create 30 flats with partial conversion of ground floor to provide access. (incorporates
flats approved under applications P/20/1373/pc & P/20/1282/fp). The site also carries a cil liability and nitrates contributions which will be the buyers responsibility to pay. All prospective purchasers are advised to have made all enquiries over the status of the planning permission along with the path, availability and capacity of all required services prior to bidding.

Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Fox & Sons/Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.

Whilst Fox & Sons make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers. Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.

1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.