DescriptionThe property occupies a large site on the south side of the High Street and comprises 22 flats on first floor level. The flats are accessed from a separate entrance on High Street. Each apartment has allocated parking which is accessed via the rear of the mall.All apartments are fully let, currently generating a rental Income of £13,000 pcm / £156,000. There is potential For Rental Increase.AccommodationNo. 1 (One Bedrooms)No 2 (Apartment sold)No. 3 (Two Bedroom)No.4 (One Bedroom)No. 5 (One Bedrooms)No 6 & 7 - Need refurbishment to create x2 additional one bedroom apartmentsNo. 8 (One Bedroom)No. 9 (One Bedrooms)No. 10 (One Bedroom)No.11 (One Bedroom)No. 12 (One Bedrooms)No. 13 (One Bedroom)No. 14 (One Bedrooms)No. 15 (One Bedroom)No.16 (One Bedroom)No. 17 (One Bedrooms)No. 18 (One Bedroom)No. 19 (One Bedrooms)No. 20 (One Bedroom)No.21 (One Bedroom)No. 22 (Two Bedrooms)No. 23 (Three Bedroom)Total Monthly Income: £13,000 pcm / £156,000LocationThe property occupies a prominent position on the High Street, which is the main retailing pitch within Cradley Heath, situated adjacent to the property is a medium sized Iceland convenience store as well as a large Tesco Extra and large car park in close proximity. The subject property is conveniently located 0.4 miles south of Cradley Heath Station. The surrounding area can be classified as a mix of commercial and residential uses with both local and national occupiers nearbyThe historic town of Cradley Heath is a popular West Midlands commuter town to the west of Birmingham. The town is located 8 miles west of Birmingham town centre, 9 miles south of Wolverhampton and 10 miles north east of Kidderminster. The town is very well connected, situated 3 miles east of the M5, which leads directly to West Bromwich and the M6 to the North and the M4 and Bristol to the south As well as good connections to the motorway network, the A458 is located 1 mile south and leads directly into Stourbridge town centre to the east and Birmingham town centre (via the A456) to the west. Cradley Heath Railway Station is located on the Birmingham to Worcester via Kidderminster line and offers regular routes between Birmingham Snow Hill and Stourbridge Junction. There are also regular services from Cradley Heath to London Marylebone on the Chiltern Railway Line with a journey time of approximately 2 hours and 15 minutes via Birmingham.London Marylebone 2 hours & 15 minutesBirmingham Moor Street Station 25 minutesViewingsPlease contact The Online Property Agency for viewings.Buyers feeBuyer's Fee of 2% of The Purchase Price. T&Cs apply.The opa’s “Secure It Now Exclusivity Package”This property is being offered under The opa’s “Secure It Now Exclusivity Package” This is an innovative secure and straightforward way to purchase this property. Here are the benefits for you:• Secure your dream property straight away• Properties are realistically priced• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller• Focuses on speed• Mortgage buyer friendly• Suitable for first time buyer• Mortgage buyers and cash buyers compete on equal terms• No competitive bidding• No risk of being gazumped• Minimises risk of fall throughsSecure It Now Exclusivity Package - How does it work?Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale. You can now secure the purchase with a buyer’s “Secure It Now Exclusivity fee “ of 2% which includes :• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.• This prevents the risk of gazumping and the• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.Step 1 - Register your interestStep 2 - Sort out your financesStep 3 - Arrange a viewing / Virtual TourStep 4 - Make an offerStep 5 - Secure your purchase using our buy and Secure It Now Exclusivity packageStep 6 - Exchange and completion Next Steps – Do Not Miss Out - Please note this is a realistically priced property and is likely going to create a fair amount of buying interest.If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.2: These particulars do not constitute part or all of an offer or contract.3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.4: Potential buyers are advised to recheck the measurements before committing to any expense.5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them;6: No persons in the employment of The opa has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.Misrepresentation Act 1967: The Online Property Agency for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselves as to their accuracy.
Century24 Ltd are delighted to market this investment opportunity for a residential development with planning permission for 83 units including 35% affordable based on habitable rooms in Ealing.Site currently trading as a bp fuel station with Costcutter retailer in a residential area of Greenford.PlanningThe site benefits from planning permission for the redevelopment of the site to provide a part 14-storey, part 5-storey and part 3-storey residential building to accommodate 83 flats with vehicular access from Greenford Road and associated vehicle parking.Site sale price is £10,000,000 (£10million)Build price £13,500,000 (£13.5million)83 flats at gdv of £390,000 eachTotal gdv £32,370,000(£32million)Section 106 is: £521,772cil is: £278,754Site extending to 0.5 acresBy FootGreenford High Street 0.4 milesHanwell Train Station (tfl) 1.2 milesGreenford Train Station (gwr & Central Line) 1.6 milesBy RoadA40 1.0 mileM4 (J3) 4.5 milesHeathrow Airport 6.3 milesM25 (J18) 9.4 milesBy Train from:Hanwell Train Station to London Paddington 15 minutesHanwell Train Station to Heathrow Central 18 minutesGreenford Train Station to Bond Street 26 minutesViewingsThe site can be viewed from the road at any time. For a detailed inspections please contact our residential sales department a member of theteam. Accompanied inspection are by appointment only.DisclaimerCentury24 Ltd also offer a professional, ARLA accredited Lettings and Management Service. If you are considering renting your property in order to purchase, are looking at buy to let or would like a free review of your current portfolio then please call the Lettings Manager on the number shown above.Consumer Protection from Unfair Trading Regulations 2008.Century24 Ltd have not tested any apparatus, equipment, fixtures and fittings or services. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are not necessarily included unless specifically mentioned within the sales particulars, they may however be available by separate negotiation. Any mention of Planning potential is based on the current owners opinion, unless stated otherwise a potential buyer should assume that this is a speculative opinion only and is not based on planning permission being granted or professional advice. Any reference to distance to Stations, amenities or schools are taken from portal estimated distances, buyers are advised to do their own research on distances and these area given as guides. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property. Century24 Ltd are a proud member of the Property Ombudsmen.
Location The site is located on the northern edge of Ely approximately 1 kilometre (0.6 miles) from the City Centre. The City of Ely is located approximately 16 kilometres (10 miles) north ofCambridge. The site is situated to the north of the new Isle of Ely Primary School with access from the A10, Lynn Road and Damson Avenue. There is an excellent rail service from Ely to Cambridge, London Liverpool Street and London Kings Cross with trains every fifteen minutes during peak hours.The City of Ely, with its historic core centre and Cathedral, provides an extensive range of shopping facilities, restaurants and pubs.The City also benefits from a range of independent and state schools with King's Ely and Ely Community College both situated within walking distance of the site.The Development to Date Cambridgeshire County Council has constructed a new Primary School on land off Damson Avenue as shown hatched in dark blue on the plan. The school which is called the Isle of Ely Primary School opened in April 2016.Phase 1 of the residential development land, as shown hatched in green on the plan with planning permission for 199 units, was sold to Hopkins Homes and construction commenced on site in summer 2017 and is nearing completion.Parcel C of Phase 1, as shown hatched in light blue on the plan, with planning permission for a care home was sold to lnt Care Developments. The care home opened in July 2020.Phase 3 of the residential development land, as shown hatched in orange on the plan with planning permission for 258 units, was sold to Taylor Wimpey and constructioncommenced on site in early 2020. Phase 2 of the residential development land, as shown hatched in purple on the plan with planning permission for 258 units, was sold to Vistry Homes earlier this year and construction is expected to commence in early 2022.The Orchards Green Local Centre off Damson Avenue, as shown hatched in yellow on the plan, including retail site and community centre, has recently been marketed andconstruction is anticipated to commence in late 2022. The Site The Phase 5 site extends to approximately 15.56 hectares (38.45 acres) as shown edged in red on the plan with capacity for 285 residential units. The site is generally flat and has been in arable cultivation.Information Pack A comprehensive Information Pack can be downloaded from the dataroom as follows: Username: password: Ely Planning On 20 June 2016, the District Council granted planning permission ref. 13/00785/eso for Residential led development of up to 1,200 homes with associated employment and community uses (including care or extra care home), supporting infrastructure and open space/landscaping on land to the west of Lynn Road in Ely.All of the site wide planning conditions have been discharged.Under the terms of the Section 106 Agreement, the financial contributions and planning obligations for Phase 5 can be summarised as follows:• Provision of an estimated 30% affordable housing with a tenure mix of 70% affordable rented units and 30% shared ownership units.• Open space maintenance contribution of £385,302.90 (£1,351.94 per dwelling) to be paid prior to the transfer of the Open Space to the District Council.• Allotment Scheme Maintenance contribution of £10,000 to be paid prior to the transfer of the Allotments to the District Council.The percentage of affordable housing is subject to a Viability Review which is currently being undertaken. Offers should be submitted on the basis of 30% affordable housing provision.Please note the above payments are subject to indexationCommunity Infrastructure Levy A Community Infrastructure Levy payment of £70/m2 will be due on all free market residential units. Please note the above payment is subject to indexation.Design Code The outline planning permission relating to the Orchards Green Development requires that all character areas are covered by a design code. A copy of the approved Design Code relating to Phase 5 is available in the data room.Archaeology The Archaeological Mitigation Area shown on the plan at Section 6 of the drd Consulting Services Infrastructure Sales Summary is currently being stripped and recorded in its entirety by Oxford Archaeology. It is anticipated that the fieldworkwill be completed in mid-January 2022 and Condition 18 – Archaeology will bedischarged in respect of Phase 5. Utility Services The Landowners have entered into a contract with a multi-lay utility provider, gtc to provide electricity, gas and fibre optic connections to the site. The purchaser will be obliged to take an assignment of the contract in respect of the area which they are purchasing.Further details of the services infrastructure including points of connection are available in the Infrastructure Sales Summary.Wayleaves, Easements, Covenants and Rights of WayThe site is sold subject to all wayleaves, easements, covenants and rights of way whether or not disclosed. Title Information and Land Registry plans are available in the data room.Tenure The property is offered for sale with vacant possession on completion.Value Added Tax VAT will be chargeable on the sale which will be payable by the Purchaser in addition to the sale price.New Homes Cheffins' New Homes Department has prepared a report on sale prices in Ely which is available in the data room. Specific enquiries should be directed to Mark Peck .Technical Meeting A technical meeting will be held during the week commencing 29th November 2021. Interested parties should contact the Agents to book a session at the Technical Meeting.Method of Sale The site is offered for sale by informal tender. Interested parties are invited to submit offers by no later than 12 noon on Friday 17th December 2021 clearly marked:“Phase 5, Orchards Green, Ely” All offers should include an indicative Site Layout plan showing the number of dwellings and approximate square footage of development on which their offer is based.Local Authority East Cambridgeshire District Council The Grange Nutholt Lane Ely Cambridgeshire CB7 4EE Tel 01353 666555 Solicitors Ms K Herbert Birketts 22 Station Road Cambridge CB1 2JD Tel 01223 326600 Viewing Strictly by appointment with the Agents:Cheffins 25 Market Place Ely Cambridgeshire CB7 4NP Tel 01353 654900 Email