Land for sale in Goldington Avenue, Bedford MK40

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Property features

  • Investment property & development site
  • For sale by informal tender
  • Spacious detached property with adjacent site
  • Rarely available

Property description

Spacious detached property converted into four flats and adjacent site with planning permission for a new additional block of six flats. - Available individually or jointly.

Summary
Lot 1 - Rarely available, spacious Victorian detached property previously Froebel House School but converted in 1987 into four apartments, three x 2 bed and one x 3 bed.

Lot 2 - Located to the south side of the house also fronting Goldington Avenue is an existing garage court with planning permission for demolition of the garages and construction of a new block of six one bed flats.

The planning consent for the flats development includes 9 proposed parking spaces that will need to be allocated to both the new flats and the existing property.

The existing property extends to c2,800 sq. Ft. Gia

The Proposed block extends to c2,500 sq. Ft. Gia

The property & site will be sold with vacant possession (it may be possible to purchase the existing property with the current tenants).

The existing property (Lot 1) and the development site (Lot 2) are available either individually or jointly.

Location
The property & site are in a very desirable residential area to the east of the town centre which is a ten-minute walk away. Bedford main line railway station has fast, frequent trains to London St Pancras International. Bedford is 14 miles to the east of Milton Keynes and 25 miles to the west of Cambridge and is conveniently situated for access to the A421 dual carriageway linking the A1 and M1 motorways.

Existing Property (Lot 1)
The existing property is a substantial Victorian detached property, previously Froebel House School and is currently split into four self-contained apartments. Planning permission was granted in 1987 for a change of use from education to private housing. Three of the apartments have 2 bedrooms and the fourth, 3 bedrooms as shown on the attached floor plans. We believe there is potential to reconfigure the floor plans to maximise the lettable accommodation.

The flats all benefit from gas radiator central heating and replacement UPVC windows but having been converted in the 1980?S, they need some updating.

Works are required (flats 2 & 3)to the existing property to satisfy a planning condition to enable the implementation of the adjacent development consent.

Existing Accommodation
Flat 1 Ground Floor, 3 Bed, c.660 sq. Ft. Let at £650.00 pcm

Flat 2 Ground Floor, 2 Bed, c.655 sq. Ft. Let at £535.00 pcm

Flat 3 First Floor, 2 Bed, c.660 sq. Ft. Let at £510.00 pcm

Flat 4 First Floor, 2 Bed, c.720 sq. Ft. Currently empty.

Notes:- (1) Following required works in accordance with the current approved planning drawings, flat 2 will become a one bed unit, but we believe it may be possible to be reconfigured back to 2 beds.

(2) All flats are let on six month shorthold tenancies.

Services (to existing property)
It is believed that mains drainage and all utility services are connected to the property.

EPCs
EPCs for the individual flats can be provided upon request.

Development Site (Lot 2)
The site was formally the location of a classroom attached to Froebel House School.

Planning permission was granted in 1964 for the demolition of a classroom and erection of 13 lock up garages.

The site is currently a block of garages. None of the garages are currently let to residents of the existing property.

Demolition of the garages will be necessary to facilitate the development.

Planning (Lot 2)
Planning consent was approved in May 2018 (ref 18/00659/ful) for the erection of 6 Apartments and associated parking and other works.

The six apartments are all one bed units of between 360 sq ft. And 400 sq ft. Each, totalling 2,300 sq. Ft. Gia (accommodation schedule attached).

Community Infrastructure Levy
The development will be liable to a ?Community Infrastructure Payment? At the rate of £125 per sq. Metre, interested parties would need to confirm this. The cil Liability Notice (copy available on request) specifies a total required payment of £12,210.

Services (to development site)
It is believed that no mains drainage or utility services are connected to the existing garage site but these are believed to be available in Goldington Avenue. Interested parties should make their own enquires with regard to drainage and utility services to serve the new development.

General Conditions
These conditions only apply if Lots 1 & 2 are sold individually to separate purchasers.

Lot 1 (Existing Property, 81 Goldington Avenue)
Lot 1 is shown hatched green on the enclosed Promap.

The purchaser of Lot 1 will be responsible for the alteration of flats 2 & 3 to comply with the planning approved drawings.

The purchaser of Lot 1 will be responsible for the clearance of planning condition 12, relating to the existing ground floor living room window in the southern elevation.

All works are to be completed within a time frame to be agreed between all parties following legal completion of the purchase.

Lot 2 (Development Site)
Lot 2 is shown hatched blue on the enclosed Promap.

The purchaser of Lot 2 will be responsible for the clearance of planning condition 4, allocation of parking spaces and for providing four spaces to be allocated to Lot 1, to the purchaser of Lot 1 free of all charges.

The purchaser of Lot 2 will also provide all necessary rights of access to serve the four parking spaces, cycle store and bins provided for Lot 1.

The time frame for providing the parking spaces, cycle store and bins allocated to Lot 1 is to be agreed between all parties following legal completion of the purchase.

The purchaser of Lot 2 will be responsible for providing free of all charges, any necessary cycle storage required by Lot 1 under planning condition 6.

Demarcation of the boundary between lots 1 & 2 necessary for compliance with planning condition 2 will be the responsibility of the purchaser of Lot 2. Any new fencing required will be 1.8m high close board fence with access gate(s) as necessary, provided within a time frame to be agreed between all parties following legal completion of the purchase.

Viewings
Lot 1 - Viewing can be arranged (by appointment only) to view flat 4, communal and external areas only as othe other flats are occupied.

We will try and arrange an ?Open time? To view the occupied flats closer to the tender submission date.

Lot 2 ? Can be viewed at any reasonable time.

Tenure
The property & site are to be sold freehold.

Terms
Unconditional offers are invited for the freehold of Lot 1 or Lot 2 or Lots 1 & 2, by Informal Tender to be submitted on the tender form and returned to Compass by noon on Tuesday 31st July 2018.

Offers are to be subject to contract only.

Sale Conditions

1) The purchasers are to exchange contracts within 30 ?Working? Days from receipt of contract documentation by their solicitor.
2) Legal completion is to take place following exchange of contracts on a date agreed between vendors & purchaser.

Contact
Compass Land and Development on Compass Land & Development for themselves, and for the vendors of the land, whose agents they are, give notice that; (A) These particulars are produced in good faith, but are set out as a general guide only and do not constitute any part of a contract; (B) No person in the employment of Compass Land and Development has any authority to make or give any representation or warranty what so ever to the property / land. These details are presented subject to Contract and without prejudice. July 2018.

Property info

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Compass Land & Property Ltd, MK40 on +44 1234 671982 * (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 Compass Land & Property Ltd, and do not constitute property particulars. Please contact Compass Land & Property Ltd 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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