Silsoe, Bedfordshire, MK45

THE OPPORTUNITY

We are instructed by Homes England to offer the residential investment / development opportunity of the land and premises at Wrest Park Silsoe. The site currently comprises eighteen dwellings and is
approximately 1.31 hectares (3.24 acres) in size. Six semi-detached houses are currently vacant and would benefit from either refurbishment or redevelopment, subject to planning. The remaining twelve semidetached houses are held on AST’s (Assured Shorthold Tenancies).

It should be noted that the site can be purchased as a whole, which includes both plots. Alternatively, the site can be purchased as two individual plots. The two existing plots are outlined in greater detail below.

THE SITE

Plot 1

Nos. 1-6 Wrest Park currently comprise three pairs of semi-detached two storey houses all of which are vacant. The houses appear to have been constructed in the 1950s of concrete frame construction with concrete panel elevations under a pitched roof and have been fitted with uPVC double glazed replacement windows. Each of the houses has a relatively large rear garden and outhouse store. The houses all offer a kitchen at ground floor and three bedrooms and bathroom at first floor. The houses are presented to a poor and relatively basic internal specification and would require significant refurbishment prior to future occupation. Alternatively, the houses and the remainder of the site could be suitable for redevelopment subject to planning.

Plot 2

Nos. 7-18 Wrest Park comprise six pairs of semi-detached two storey houses and we understand the houses were constructed in the 1960s and are of more typical brick construction under pitched tiled roofs with uPVC double glazed replacement windows. Each house benefits from a rear garden and Nos. 11-17 all have garages and Nos. 11-18 have outhouse stores. Each house has a similar layout, consisting of a hallway, lounge and kitchen at ground floor with three bedrooms and bathroom at first floor. The estate road is unadopted, with the neighbouring landowner benefitting from a right of way.


LOCATION

The site is located in Silsoe, a thriving village situated mid-way between Bedford (11 miles to the north) and Luton (10 miles to the south). The site lies to the eastern edge of the village of Silsoe, close to the A6, which provides links to the wider road networks.

The site is accessed off Park Avenue which adjoins the High Street. Park Avenue provides access to Wrest Park, a country estate operated by English Heritage, which lies immediately east of the site.

The A507 is to the north and runs east-west. The village is well serviced and benefits from a range of facilities and services including a village store, primary school, village hall, church and country pubs. There are also frequent bus connections to the surrounding villages. The nearest train stations are Flitwick and Harlington, both within 5 miles.

PLANNING

The local authority is Central Bedfordshire Council. The adopted Central Bedfordshire North Local Development Framework (LDF) currently guides development in Silsoe. The Silsoe insert map, which forms part of the LDF identifies the entire site falling within the settlement boundary. It is considered that redevelopment of Nos. 1-6 Wrest Park would be in principle acceptable, as this forms part of the site falling within the settlement boundary. There are currently no live planning applications relating to the site. It is recommended that parties contact the local authority with any questions regarding planning queries.

TENURE

The site will be sold on a freehold basis. Offers for Nos. 1-6 and Nos. 7-18 separately may be considered although the preference is to sell the entire site. Copies of the title information and the ASTs are included within the Dataroom.

TENANCIES

Nos. 7-18 are occupied under AST agreements. The tenancies all commenced on 1st July 2021, for a period of 36 months, terminating on 30th June 2024. The properties produce a combined annual rent of £104,700. There is currently one vacant house, with the landowner carrying out refurbishments with the view to agree a new lease shortly. The properties generally prove to be very popular, with very short void periods during re-letting.

PRICE

Offers invited.

TENDER

The plots will be sold on a formal tender basis. All tenders must be received by 12 noon 1st December 2022 and sent to the email address found on the brochure. The email subject line MUST include ‘D23005 – 1950s and 1960s units, Wrest Park, Silsoe’
Bids must not be submitted to Carter Jonas and only bids submitted to the tender email address as shown on the correct Bid Proforma form will be considered.

ADDITIONAL REQUIREMENTS

The purchaser of Nos. 7-18 or as a combined bid for both plots, must be an established Landlord with a proven track record of managing properties. Please see further information on the Bid Proforma located within the Dataroom.

VIEWINGS

There will be designated viewing days during the marketing period – the details for which will be disclosed in due course. Viewing by appointment only.

VAT

We understand that VAT is applicable on the purchase price.

FURTHER INFORMATION

A Dataroom has been created that contains additional information including legal documentation. Should you require any further information please contact the Sole Selling Agents. The details are available from the Sole Selling Agents whose details can be found within the brochure.