Land Between Tye Road And Unity Street, Duke Street

Opportunity

Full Planning permission was granted for 44 residential units, on-site parking, and open amenity space. The planning reference number for this site is 17/00570/FUL (Ipswich Borough Council). The site comprises three separate residential blocks.

The current vendor has developed Tollesbury House (one of the three residential blocks) which comprises 16 of the 44 residential units granted and decided to sell off the rest of the site to another developer.

Purchasing a partially completed property development site that already demonstrates buyer demand offers several
compelling advantages for a developer. 

1. Reduced Risk Due to Proven Buyer Demand: Established Market Appeal A partially completed development with sold or occupied units provides concrete evidence that there is demand for properties in that location. This reduces the uncertainty and risk involved in launching a completely new development. Faster Sales Prospects: With buyers already showing interest in the project, it’s likely that the remaining units will also attract demand, enabling faster sales. This demand could come from the same demographic or target market that was interested in the earlier phases of the project.
2. Lower Development and Planning Risk: Established Planning Approvals: This site already has secured planning permissions, This eliminates the often lengthy and costly process of obtaining these.
3. Accelerated Development Timeline: Partially Established Infrastructure: Key infrastructure elements, such as roads, utilities, and essential services, are already in place, reducing the time and cost needed to complete the project.
4. Market Confidence and Reputation: Boosts Credibility: A site that already has completed and sold units demonstrates confidence in the market. Buyers and investors may feel more secure purchasing a property in a partially completed development because it has already attracted interest. Track Record for Lenders: Lenders may view the project more favourably since the site has a proven track record of sales. This can make it easier to secure financing or more favourable loan terms.
5. Established Community Appeal: Sense of Community: When some units are already completed and occupied, the development has an established community, making it more attractive to prospective buyers. People often prefer moving into a neighbourhood where there’s already a community and infrastructure in place. Neighbourhood Development: As the development progresses, the neighbourhood improves, with more services, shops, and amenities being established. Buyers and investors tend to value the completion of projects where communities are already growing.
6. Clear Market Insights and Data: Market Feedback: A part-completed development provides valuable insights into what has worked well so far in terms of pricing, design, and buyer preferences. This feedback can guide the remaining development and sales strategy, reducing the guesswork that often comes with new projects. Demand for Certain Property Types: If certain types of units (e.g., larger apartments or townhouses) sold particularly well in the initial phase, this knowledge can be used to tailor the remaining development to meet demand more effectively.

Location

The plot is situated close to Ipswich's thriving Waterfront, an area that has undergone extensive rebuilding and gentrification in recent years as part of the local authority's regeneration programme. This vibrant district boasts a popular mix of bars, bistros, restaurants and coffee shops, creating an appealing atmosphere for residents and visitors alike.

The site is located on Duke Street, nestled between Tye Road and Unity Street, in the up-and-coming student area surrounding the New Suffolk University. This proximity makes it particularly attractive for student accommodation or young professionals. Allowing for scope to create a purpose built student block.

Ipswich town centre is just a few minutes' walk away, offering a broad range of commercial, entertainment, and shopping amenities to cater to diverse needs and interests. The site is also situated within close proximity to the delightful Holywells Park, providing easy access to green spaces and recreational areas.

Transportation links are excellent, with the main train station approximately a mile's walk along the Waterfront. The station provides direct services to Norwich, London Liverpool Street, and other key destinations. By road, Ipswich is well-connected with easy access to the A14 and A12, connecting to the Midlands and London respectively. For international travel, Stansted Airport is just an hour's drive away.

As the county town of Suffolk, Ipswich combines historical charm with modern development, making it an attractive location for residents, students, and businesses alike. The ongoing regeneration of the Waterfront area continues to enhance the appeal of this already desirable location.

Planning

Full Planning permission was granted for 44 residential units, on-site parking, and open amenity space. The planning reference number for this site is 17/00570/FUL (Ipswich Borough Council). The site comprises three separate residential blocks. 

The developer is selling off 28 of the residential units along with the on-site parking (one for one) and open amenity space allocated with the 28 residential units.

Full copies of the application documents, including all drawings and reports associated with the site, can be obtained from Ipswich Borough Council's online planning service by inputting application reference number 17/00570/FUL on the council website.

As outlined in the Design & Access Statement submitted with the planning application, new housing was proposed on this site to provide a positive contribution to the public realm, supporting the ongoing urban development of this part of town and further supporting the ongoing regeneration of the Waterfront.

A Section 106 Agreement is already in place for an off site financial contribution with no affordable housing onsite.

Prospective purchasers are advised to carry out their own review of the planning and technical information relating to the site via the aforementioned council website link.

A data room containing all of the information is available upon request after qualification.

Site Size  
We are advised that the total reponsible area 3187.31 SQM or 0.78 Acres. The particulars detail both the shared and sole responsibility of the site.

Price  
£1.2 million

Viewing 
The site can be viewed from the public highway

Nothing contained in these particulars or their contents or actions, both verbally or in writing, by Harrisons forms any offer or contract, liability or implied obligation to any applicants, viewing parties or prospective purchasers of the property to the fullest extent permitted by law and should not be relied upon as statements or representative of fact. No person in the employment of Harrisons or any joint agents has authority to make or give any representation or warranty whatsoever in relation to this property. Any areas of measurements or distances are approximate. The text, photographs and plans are for guidance only, may not be to scale and are not necessarily comprehensive. No assumptions should be made that the property has all necessary planning, building regulation or other consents. Harrisons has not carried out a survey, nor tested the services, appliances or facilities. Purchasers must satisfy themselves by inspection or otherwise. All rentals and prices are quoted exclusive of VAT unless otherwise stated.