Lincoln, Lincolnshire, An excellent opportunity to acquire

Pygott & Crone - Commercial

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· Joined: Feb 17, 2011

£825,000

Lincoln, Lincolnshire, An excellent opportunity to acquire

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Lincoln, Lincolnshire, An excellent opportunity to acquire in Lincoln LIN is a House

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Price:

£825,000 Get Prequalified Today

Contact:

01522 536777

Location:

Lincoln, Lincs

Description:

An excellent opportunity to acquire this residential development site with an overall area of 0.205 ha (0.507 Acres) overall, with planning consent for 0.101 ha (0.25 Acres) to the rear at the present time, with potential planning permission to be granted to the building at the front being the existing Harvest House Nursing Home. The rear site has planning for 9 apartments including 7 x 2 bed apartments and 2 x 1 bed apartments in a three-storey block, together with 1 x 3 bed townhouse to the front.

SITUATION
In the heart of the East Midlands lies the City of Lincoln which has one of the fastest growing economies in the UK. The City and its suburbs have a population in excess of 100,000, and a retail catchment area in the region of 300,000.
2006 Acorn Population Profile
Lincoln 10 mile radius 188,612
Lincoln City is an administrative, educational, business, financial and cultural centre. Companies based in the City include Siemens, Hyder Business Services, Walkers Foods, British Telecom, Lincat and Anglian Water.
Lincolnshire is the fourth largest County in England and there is plenty of scope for growth. Population density of the County is approximately 650,000 in an area covering some 2,200 square miles.
Each year thousands of people choose to settle in Lincolnshire, in fact it is the second fastest growing of all the Shires, with a net inward migration twice that of the national average.
(Source: Lincolnshire Enterprise)
Lincoln City Centre is experiencing major redevelopment and is rapidly expanding. Lincoln is ranked third out of thirty five centres in the East Midlands (Experian retail centre ranking 2002 report) and offers a diverse range of shops and businesses. Lincoln also has one of the UK's newest Universities situated in the heart of the City by the Brayford Pool.
The University is a vibrant forward thinking institution which continues to grow with new facilities being opened recently, including the architects building and medical centre
DESCRIPTION
The site comprises the Harvest House Nursing Home together with rear land being a former car park with planning permission for the rear land being 0.101 Ha (0.25 Acres), with the overall site being 0.205 Ha (0.507 Acres). The land to the rear has planning permission for 9 apartments including 7 x 2 bed apartments, 2 x 1 bed apartments, and are configured on the basis of 4 flats on the ground floor, 3 on the first floor and 2 on the second floor. These are configured as follows:
GROUND FLOOR
Apartment 1 - 2 bed - 549 sq ft
Apartment 2 - 2 bed - 667 sq ft
Apartment 3 - 1 bed - 484 sq ft
Apartment 4 - 2 bed - 613 sq ft
FIRST FLOOR
Apartment 5 - 2 bed - 549 sq ft
Apartment 6 - 2 bed - 667 sq ft
Apartment 7 - 1 bed - 484 sq ft
SECOND FLOOR
Apartment 8 - 2 bed - 560 sq ft
Apartment 9 - 2 bed - 549 sq ft
Plans are attached hereto.
The front comprises the Harvest House Nursing Home which we understand has no planning permission at the present time for residential development, however the agents believe this has great potential for residential development in conjunction with the rear site. Suggested prices could be achieved on the apartments:
Apartment 1 - 112,950
Apartment 2 - 115,000
Apartment 3 - 85,000
Apartment 4 - 114,000
Apartment 5 - 112,500
Apartment 6 - 115,000
Apartment 7 - 85,000
Apartment 8 - 114,000
Apartment 9 - 114,000
Three Bed Town House - 150,000
ORDNANCE SURVEY PLAN
Not to scale.
SITE LAYOUT
Not to scale.
GROUND FLOOR PLAN
Not to scale.
FIRST & SECOND FLOOR
Not to scale.
DETACHED HOUSE PLAN
Not to scale.
PLANNING PERMISSION
A copy of the planning permission is available upon request to the Agents.
SERVICES
Mains electricity, water, drainage and gas are connected to the adjoining properties; however no supplied have been connected to this property and all prospective purchasers are advised to check upon the adequacy of these supplies for their own purposes.
VAT
The price expressed in these particulars is exclusive of VAT at the appropriate rate.
PLANNING
Contact Lincoln City Council, tel: 01522 881188.
NOTE
The Money Laundering Regulations 2007 has been extended to include estate agency work with the definition of relevant business. Estate agency is as defined in the Estate Agents Act 1979. Auctioneers and estate agents will have to put certain anti-money laundering procedures into place. Failure to do so will be a criminal offence that carries a penalty of a maximum of two years imprisonment, or a fine or both.
The principal requirements are identification of clients, record keeping, internal reporting procedures and employee training and awareness.

This footer paragraph is an example only and should not be relied upon as complying with current legislation. These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.

Property Type:

Single-Family Houses

Sq feet:

484 sq. ft.

Amenities:

Pool

For sale by:

Agent/Broker

Phone:

01522 536777

Posted:

February 16 2011 on Facebook