Land for saleRingwood Road , Bournemouth
Sold by Us £499,950
Development/Investment opportunity available with planning OR Subject to planning. Planning granted January 2015, for a ground floor commercial unit measuring 3369.1sq ft (313m2) with outside forecourt and lower ground floor display area/show room measuring 495.1sq ft (46m2). First and second floor flats. Flat sizes: Flat 1 - 678.1sq ft (63m2). Flat 2 - 452sq ft (42m2). Flat 3 - 505.9sq ft (47m2). Flat 4 - 710.4sq ft (66m2). Flat 5 - 484.3sq ft (45m2). Flat 6 - 678.1sq ft (63m2). Flat 7 - 430.5sq ft (40m2). Flat 8 - 893.4sq ft (83m2). There is basement parking for 10 x cars, cycle store and a, lift to all floors. Outside display areas.
Bournemouth Borough Council. Section 106/CIL contributions to be paid by the purchaser. No known covenants. The existing building will need to be demolished to build the new development. Currently let to KO City Garage Ltd at £38,000 p.a. on a rolling six-month lease. The Residential element has a gdv of approximately £1,052,500.00 and the commercial has a value of £51,148.80 p.a. gross. The combined commercial & residential Gdv for the new development is approximately £1,600,000. The total combined potential rental income is £121,718.40 p.a. Past interest has been received by Tesco & Sainsbury's and Costa Coffee for the commercial element of the proposed building. Alternative planning. The vendor has had a positive Pre-App meeting with the council on the basis of 4 x 2 bed & 11 x 1 bed flats (15 x flats in total). Gdv £2,162,500. Ask. Please Contact Andrew Hooper. More development and investments on our web site: www.churchfield.uk.com
More development and investments on our web site: www.churchfield.uk.com
Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1.8% (minimum fee of £2,400) including Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell the finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed) the acquired property or the developed properties on a sole agency basis within three years of completion. If Churchfield are not instructed and the acquisition is sold or Let by the purchaser/s within this period, an additional fee of 1.8% including vat (minimum fee £2,400 including vat) of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed. Once the three year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest.
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