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Property for sale

Slough Road, Iver, London, SL0


Property Description

Full description

The site is located in the County of Buckinghamshire adjacent to the conurbations of Uxbridge, Cowley and Iver on the outskirts of London. The site is situated directly adjacent to the Iver 66kV GSP Substation. The M25, the
London Orbital Motorway, borders the site to the west. Approximately 2km to the north west is Junction 16 of the M25. To the north east are sand and stone workings, including large ponds and open quarries. Further to the east are industrial buildings.

The site is part of Mansfield Farm, a tenanted farm just off the M25. The farm is mainly used for arable. It comprises a number of fields extending to over 100 acres although the development site will be restricted to close to the existing
Iver GSP Substation, allowing the developer approximately 2.5 acres for the project.
The leasehold area is proposed to include land for the battery units, ancillary infrastructure, access, the Scottish and Southern Electricity Networks (SSE) substation and security measures.

No planning permission has yet been obtained for the site from South Bucks District Council. It will be up to the Tenant to apply for planning permission at the earliest opportunity.

The Vendor has accepted a grid connection offer from SSE for a 49.5MW battery development, assuming a maximum 49,500kVA export capacity and 49,500kVA import capacity. The connection voltage is 66kV via a tee-off connection into the existing Iver to Northolt 66kV overhead
line (OHL) network approximately 150m to the south west of the site by the Iver 66kV GSP Substation.
The contract price is £3,087,295.44 plus VAT for the full works, with £1,320,049.00 plus VAT making up the noncontestable element and £1,767,246.44 plus VAT the contestable element. The Vendor has accepted and paid the deposit for the connection.

The Vendor owns the land subject to the lease for the project.
Heads of Terms are to be entered into with the Vendor, the principle items of which are as follows:
• Option: 12 months.
• Lease Term: 20 years.
• Purpose: 49.5MW battery project.
• Insurance: Public liability, standard all risk insurance for a
minimum of £10,000,000.
• Decommissioning: The Tenant will be required to remove all equipment and to establish a bond to be paid into a designated account on exercise of the lease, alternatively the Tenant can take out an insurance policy as security for their obligations to reinstate the site under the terms of the Lease.

Sole selling agents:
Carter Jonas LLP, First Floor, 9 Bond Court, Leeds, LS1 2JZ
P: 0113 203 1097

More information from this agent

Listing History

Added on Rightmove:
04 October 2018

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