Land for sale in Farnborough Road, Nottingham NG11

£10,500,000
Interested in this property? Call +44 1476 218908 * or Request Details

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Property description



Location
The land is accessed off Nottingham Road south of the suburb of Clifton and just off the newly upgrade A453 between Nottingham and the M1.

Description
The land is currently farmland and cropped for arable purposes. The site has direct access onto Nottingham Road which may allow for some limited early housing prior to the implementation of some of the bigger infrastructure obligation.

Terms

Method of sale


The property is being offered for sale as a whole.


Terms


The property is being offered for sale subject to a Farm Business Tenancy in favour of the vendor.


Guide price


The property is being guided at £10,500,000.

VAT
It is understood that the land has not been registered for VAT however, the vendor reserves the right to elect to charge VAT.

Planning

Current planning situation


The land falls in the jurisdiction of Rushcliffe Borough Council. This and surrounding land forms part of an adopted allocation for circa 3,000 houses and a direct access onto the newly upgraded A453. The site also benefits from a Resolution to Grant planning following the submission of a planning application, subject only to the completion of the Section 106 Agreement.

Much planning work has been carried out already, and it is known what obligations the Local Authority would like to see within the Section 106 Agreement, which will be referred to in more detail later on in these particulars. Therefore, it is possible to get an implementable consent quickly.

Under the current Master Plan, the land for sale will be mostly housing with some landscaping.


Planning consultant


The Planning Consultant that dealt with the planning application and acted on behalf of landowners will be available to speak to. Their contact details are:

Oxalis Planning Limited
Unit 7, Wheatcroft Business Park
Landmere Lane
Edwalton
Nottingham, NG12 4DG
Tel: Contact: Ben Holmes


Local authority


Rushcliffe Borough Council
Civic Offices
Pavillion Road
West Bridgford
Nottingham

other

Landowner cooperation


There is an Equalisation Agreement, the terms of which have been agreed between all parties is ready to be signed. It is understood that all parties are prepared to enter into it


Documentation


All planning documentation is available via disc which can be forwarded on request. The contents of the planning disc includes the following:

•Site Location Plan
•Planning Statement
•Design & Access Statement
•Public Consultation Document
•Non-Technical Summary
oSummary
oDevelopment Proposals
oPlanning Policy
oSocio-Economic Considerations
oLandscaping & Visual Effects
oEcology & Nature Conservation
oGeology, Soil & Ground Water
oWater Resources & Drainage
oNoise & Vibration
oAir Quality
oCultural Heritage
oTraffic & Transport Pt 1
oTraffic & Transport Pt 2
oAgricultural Land
oCumulative Effects

section 106 agreement
The Section 106 Agreement has not yet been entered into and nor have negotiations commenced. However, it is understood that the Local Authority have requested that the Section 106 Agreement includes the following:

Item Estimated Cost
Two form entry primary schools £8,000,000
A contribution to off-site secondary school £6,500,000
Off-site highway contribution £1,700,000
Off-site county highways contribution
(being contested) £1,300,000
Off-site indoor leisure contribution £1.600,000
On-site community hall provision £1,400,000
On-site health centre
(Has value and therefore, could be sold) £2,000,000
Public open space
The Affordable Housing Policy for Rushcliffe Borough Council is 30%

It is understood that Rushcliffe Borough Council are keen to see this site delivered. It is possible that up to 500 houses could be delivered off Nottingham/Gotham Road in advance of the main scheme.


Areas


Via the master planners the sale land extends to 87.02 acres gross which represents 14.8% of the entire landholding with the development land. Interested parties must make their own assessment of area.

Easements, wayleaves and rights of way
The site is sold subject to, and with the benefit of, all existing obligations and rights, including rights of way, whether public or private, light, support, drainage, water, electricity supplies and other obligations, easements, quasi-easements and all wayleaves, whether referred to or not in these Particulars.


Measurements


Effort has been made to be accurate as to the size of the property that has been made available for sale, however, all interested parties should carry out their own investigation to satisfy themselves as to the size of the land area.

Property info

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For more information about this property, please contact
Brown & Co, NG31 on +44 1476 218908 * (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 Brown & Co, and do not constitute property particulars. Please contact Brown & Co for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation 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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