Land for saleLodge Lane, LN2
Under Offer 4.5 ac. | Sale by Tender
- 4.6 acres (1.8 hectares)
- Residential/Commercial Development Site
- Planning Permission for mixed-use scheme
- Cleared parcel of land
- Popular village offering a wide range of local facilities
- PP for 40 residential Units & 0.73 acres of commercial development land
- Fronting Lodge Lane
- For Sale by Informal Tender - Best Offers by 12.00 noon Wednesday 29 June 2016
A regular shaped, cleared and level site, extending in total to about 1.84 hectares (4.55 acres), with a frontage to Lodge Lane of about 94 m (308 ft), which is also from where the site takes its vehicular access. The site is bordered to the north by existing residential development and to the south and west by playing fields.
TOWN AND COUNTRY PLANNING
Planning Permission was granted on Appeal in December 2015 for a mixed use scheme of 40 residential units and 0.73 acres of commercial development, fronting Lodge Lane. A copy of the Inspector's Decision Notice is available on request.
There is a Section 106 Agreement, the salient points of which are:
(i) There is a 25% Affordable Housing Provision.
(ii) There is an Education Contribution of £227,579 and an NHS Contribution of £17,000.
All mains services are available within close proximity to the site, although the vendors can give no guarantee as to the exact location and capacity of these services. Interested parties should therefore make their own enquiries in this regard with the service providers.
The site is situated in an attractive location on the south eastern edge of the highly sought after village of Nettleham, about 4 miles north east of Lincoln City Centre. Lodge Lane provides easy access to the A158 Wragby Road and from there access to A46 Lincoln ring road.
The village of Nettleham has a population of around 3,500 (2011 Census) and enjoys a wide range of local facilities including a Co-op Convenience Store, Pharmacy and Post Office, various takeaways and pubs and a highly regarded primary school. The village is also within the catchment for William Farr School, one of the most popular and over-subscribed secondary schools in the county.
VAT may be payable in addition to the purchase price.
An information pack containing the following information is available on request:
Planning Permission, Appeal Decision Notice, S.106 Agreement and the various reports commissioned as part of the planning application.
METHOD OF SALE
The site is being offered for sale by way of Informal Tender with offers to be submitted on the attached Tender Form and received at the office of Banks Long & Co, no later than 12 noon on Wednesday 29 June 2016.
Offers are invited for the whole site edged in red on the site plan on the rear of the Tender Form. Unconditional offers will be preferred, but conditional offers will be considered. In the case of conditional bids the conditions attached to the offer must be clearly set out on the Tender Form. Offers are to be made for a fixed sum, unrelated to any other offer or event. Offers received by email will be acceptable.
PLEASE NOTE THAT THE VENDORS DO NOT BIND THEMSELVES TO ACCEPT EITHER THE REQUEST OR ANY OFFER MADE.
There will be an overage provision incorporated into the sale documentation under which the purchaser or their successors in title will be required to make an overage payment to the Vendors, equating to 50% of the uplift in the value of the 0.73 acre commercial site fronting Lodge Lane, hatched blue on the OS plan on the rear of the Particulars/Tender Form, in the event that planning permission is granted for residential development on the whole or part of this section of the site, for up to 25 years from the completion of the initial sale of the site.
This site can be viewed from the road during daylight hours but interested parties are advised to carry a set of Banks Long & Co Property Particulars with them.
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