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Land for sale

Melbourne Street, Bedford, MK42

Sold STC £4,000,000

Property Description

Key features

  • Consented site
  • Town centre location
  • Easy access for train station and embankment
  • Development comprises 119 apartments

Full description

- Consented development site amounting to 0.87acres for 119 apartments over 10 upper floors comprising 23 x 1 bed and 96 x 2 bed units (approximately 88,420 sq ft GIA)

- All private sale units (no affordable requirement)

- Close to town centre and within easy walking distance of the mainline train station.

- Apartments will have 55 parking spaces and most have balconies or terraces and lift access.

- GDV sales projection of c£23,500,000

- Guide Price: Offers in region of £4 million.

Description & Location
- The land is currently occupied by a c1960s office building facing Kingsway & Melbourne Street.

- The site is prominently located on the corner of Kingsway and Melbourne Street. Located within a mile of Bedford station, which provides regular services to London St. Pancras with a fast journey time of approximately 38 minutes.

- The land is located approximately 10 miles from Junction 13 of the M1 and 20 miles from London Luton Airport.

Planning/Section 106

- Planning ref 11/02404/MAF
Conversion of existing building and alterations to form 28 flats

- Planning Ref 12/01039/MAF
Change of use and refurbishment of Melbourne House - offices to residential and new residential development up to 10 storeys adjoining the existing building to provide 90 new dwellings, with parking at ground floor, communal roof gardens, and a coffee shop/cafe fronting onto the Kingsway and Melbourne Street junction.

- Planning ref 15/02985/M73
Amendments to condition 2 of 12/01039/MAF to allow the internal reconfiguration of the floor layout and external alterations including an additional storey resulting in the provision of an additional 29 apartments.

- The current Planning Permission is for 119 units, 23 x 1 bed & 96 x 2 bed
There is no affordable housing requirement, Section 106 costs amount to £167,194 and the CIL payment will be £147,404

All main services are believed to be available but prospective purchasers must make their own enquiries as to connection and supply costs.

There are currently four vehicular access points into the site, 3 from Melbourne Street and 1 from Kingsway. The proposed development is accessed from Melbourne Street.

The land is to be sold freehold.

Guide Price: Offers in region of £4 million
The sale will be subject to VAT

Conditions of sale
The purchaser is to exchange contracts and complete the purchase in a quick timescale (to be agreed).

Additional Info
Copies of detailed floor plans and sales value recommendations are available upon request.
Technical information and reports available on request

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 land October 2016. These details are presented subject to Contract and without prejudice.

More information from this agent

Listing History

Added on Rightmove:
25 November 2016

Map & Street View

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