Recent Land Sales, Sold Schemes & Completed Joint Ventures
Fenwicks Storage Yard, Brokenford Lane, Totton
Cicero Estates, in association with Blue Leaf Projects, are pleased to announce the sale of Fenwick's Storage Yard, Brokenford Lane, Totton, to Sovereign Housing / Hampshire Homes.The site, which has outline planning permission for 21 houses, will provide much needed affordable housing on this brown field land located close to Totton centre.
Our thanks go out to the planning team OB Architecture, RGP, Eco Support, Cariss Land and Paul Stubbington Surveys. This transaction was brought forward on a partnership agreement with the land owner and where we were able to reflect a 22% return over the land's value back to the freeholder over a 12 month period. This level of return, over a short period of time, further testifies to the benefits of this type of legal agreement and partnership.
1 Oaks Drive, St Leonards, Ringwood
The site, which is located on the outskirts of Ringwood, benefits from detailed planning permission for the demolition of the existing building and its replacement with 1 x block of 2 bedroom apartments, 2 x detached 1,011 sq ft 3 bedroom detached houses and 1 x detached 1,564 sq ft chalet bungalow.
Tower Road, Branksome Park, Poole
This site, which extended to 0.35 ha (0.87 acres), had the benefit of a detailed planning consent for the construction of 14 apartments, arranged over a five storey block with ancillary underground car parking. Purchased for £2,450,000 and sold to a national retirement provider for £3,700,000 representing a 51% gross uplift.
A 1.98 acre site purchased with planning permission for 21 units for £650,000. Value engineering included an econimic viability assessment to reduce down the impact of 106 costs and obligations and remove the need for the land to provide affordable housing. The site's disposal to a specialist land fund completed in this summer for £1,4000,000 providing a 115% gross uplift on the purchase cost.
1.93 acres with the benefit of planning permission for 29 houses and apartments where a Joint Venture agreement was completed in September 2017 with a local house builder who will provide both the construction and sales of the completed units.
24 unit scheme located within the picturesque village of Hovingham, North Yorkshire. The site was sold to a local developer on a Joint Venture basis, where the land receipt was received through the plot sale process up to the agreed purchase price. All units have now been built and sold and the agreement with the developer has been completed.
The Harroway, Evingar Road, Whitchurch, Hampshire
Planning granted for 2 detached dwellings near to the centre of the town and close to the railway station under planning reference 17/00352/FULLS. Not an easy consent to get granted but after much discussion and negotiations we won a unanimous decision at committee in June 2017. The plots have now been sold to a well-known local builder. The properties should be available in the first quarter of 2018.