RESIDENTIAL DEVELOPMENT SITE FOR SALE
WITH OUTLINE PLANNING PERMISSION FOR UP TO 57 DWELLINGS
LAND AT COLDHAMS LANE, CAMBRIDGE CB1 3HQ
? Approximately 3.01 acres (1.261 hectares)
? Located 3 miles east of the city centre
Sole agents: Redmayne Arnold & Harris
FOR SALE FREEHOLD WITH OFFERS INVITED BY
NOON ON FRIDAY 26 JUNE 2015
Introduction
We are pleased to offer for sale by informal tender the freehold interest in 3.01 acres (1.261 hectares) of land that has outline planning permission and significant residential development potential.
Cambridge is a fast expanding city and is becoming a leading centre for both technology and business. It is already an attractive commuter location and the imminent re-location of Astra Zenecca will only add to pressure for more housing.
Location
Cambridge is within easy commuting distance to London and transport links are good. Cambridge railway station lies to the south east of the City centre, reasonably close to the site, providing direct services to London Kings Cross (journey time approximately 50 minutes). The M11 motorway (Junction 12) is located to the west of Cambridge and connects to London Stansted International Airport and London. The A14 (Junction 35) duel carriageway is located to the north of Cambridge which connects Bury St Edmunds to the east and Huntingdon to the north west.
The site is accessed off Coldhams Lane.
Description
A regular shaped site extending to (3.01 acres) 1.261 hectares. There is a 1970?s residential development adjacent on Hatherdene Close. The site adjoins Cambridge airport on its northern and western boundaries. The site has road frontage to Coldhams Lane to the south with a number of modern car dealerships.
The site has outline planning permission (Ref 14/0028/OUT) for up to 57 dwellings comprising houses, apartments including affordable and key worker housing, public open space with vehicular access from Coldhams Lane. The planning permission includes a provision for 40% affordable housing with a 75:25 tenure split.
Services
It is understood that mains water, electricity, gas and drainage are available in the public highway. The purchasers are to satisfy themselves by enquiring to the statutory authorities regarding the capacity of these services. A ransom strip between A, B, C and D will be retained by the vendors. There is a 12? gas main that runs along the western boundary of the site.
Tenure
The freehold of the land with the benefit of vacant possession is being offered for sale.
The sale contract will include a Sell-on/Uplift clause rewarding 50% of the increase in site value to the vendor if the land is sold on as a whole or in part within twenty years. The sale contract will also include an Overage clause rewarding 50% of the value if permission is obtained for a greater number of units than 57 whether they are built or not within twenty years. Both these clauses will be covered by deeds of covenant.
Information Pack
A more detailed planning information / CD can be sent out on request.
Price and Method of Sale
Offers are invited for the freehold interest. The vendors will sell the site on an unconditional basis.
Bid Procedure
Bids must be received at these offices by noon on Friday 26 June 2015. The bids will be sent unopened to our client immediately after this time. Late bids will not be accepted.
Bids should be delivered by post (preferably registered) or hand delivered to Redmayne Arnold & Harris, 54-64 Newmarket Road, Cambridge
CB5 8DZ and marked for the attention of Mr Nick Harris.
1. All bids should be sealed and marked ?Tender ? Coldhams Lane Land? in the top left hand corner of the envelope, but there should be absolutely no markings which could identify the bidder.
2. All bids received will be sent unopened to the clients. If the bids are not received in the correct format, they will be viewed as being non-compliant. Please note that faxed or emailed bids will not be acceptable.
3. The vendor does not undertake to accept the highest, nor any offer received.
4. The successful purchaser will be required to exchange contracts within 28 days of draft documentation being submitted by the vendor?s solicitor.
Note:
The drawings included within these details are indicative only.
Planners: Phase 2 Planning & Development Limited
Architects: Bluepencil Designs/Robin Lines Landscape
VAT
The vendors may elect to charge VAT on the purchase price.
Viewing
Strictly by appointment with the sole agents Redmayne Arnold & Harris, contact Nick Harris, tel: 5, email:
Interested parties may visit the site with these particulars to hand.
